Being charged with committing a tax crime can be a frightening thing to experience. Tax evasion, for example, is a serious crime that can have significant consequences if one is convicted. For some Connecticut residents, choosing to plead guilty rather than go through a formal trial may be the best option. What happens when one pleads guilty?
The Internal Revenue Service has been short-staffed and underfunded for quite some time, which has resulted in specific issues not receiving the time and attention they actually require. For example, cryptocurrency tax evasion is a known problem, but there are not enough IRS agents available to devote their time to investigating potential cases. This is a problem that is about to change, however, which means those Connecticut residents who have cryptocurrency in their financial portfolios may need to prepare for the IRS to come calling.
No one in Connecticut or elsewhere wants to have to pay more in taxes than he or she has to. People do not want to feel that they are the only ones paying their fair share, so they look for ways to minimize their tax obligations. Unfortunately, in doing so, some end up being accused of tax evasion. The consequences if one is convicted can be quite severe.
Being investigated by the Internal Revenue Service can be quite intimidating. This is particularly true if one stands accused of committing a crime -- such as tax evasion. What can Connecticut residents expect if they find out they are being investigated for tax evasion?
Earlier this year, the couple behind a relatively popular television show was accused of committing tax crimes at both state and federal levels. Recently, the "Chrisley Knows Best" stars were able to settle the tax evasion charges filed by their former home state. They have yet to resolve the federal counts against them. Why does this couple's story matter? It shows Connecticut residents that fighting accusations of tax evasion is possible.
Tax law is confusing. Paying taxes is not always a straightforward thing. Many Connecticut residents do their best to file and pay on time, but some make mistakes or let their taxes slide. Those on the latter side of this equation could face some severe consequences if they are ever accused of committing tax evasion.
Over the past several weeks, this column has discussed various defense strategies that may be available to Connecticut residents who are accused of evading taxes. This week, to close out the series on this subject, one more tax evasion defense strategy will be shared. The final defense available has to do with intentional conduct.
As stated in two recently published posts for this column, evading taxes is a crime with serious consequences for Connecticut residents. Of course, it is necessary for the Internal Revenue Service to provide evidence that one has actually committed the crime and any audit requests and charges brought against the accused have to be filed in a specific time frame. In a continuation of the tax evasion defense series, the statute of limitations will now be discussed.
Accusations of evading taxes are serious and should not be taken lightly by Connecticut residents who find themselves in the state's or Internal Revenue Service's line of fire. In a previously written article, this column discussed one of several defense options available when dealing with tax evasion charges. Today, that discussion is continued with yet another defense option: insufficient evidence.
The federal and state governments take taxes very seriously. If you do not pay what you owe on time, you may be accused of tax evasion. Such an accusation is not something to take lightly, as a criminal conviction on a tax evasion charge can have significant consequences. This column will discuss various defense options available to Connecticut residents who are facing tax evasion charges.