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.
Paying taxes is often unavoidable, especially for business owners. In fact, someone who runs a Connecticut business likely has numerous taxes to pay, including state employment taxes, income taxes and federal unemployment taxes. While it may be tempting to hold back taxes and claim them as profits, business owners who do so are subject to heavy penalties if the government catches up with them. Two restaurant owners are currently facing criminal charges for tax evasion and other accusations.
It is not uncommon for certain terms to be used interchangeably. Tax fraud and tax evasion are often considered to be one in the same, but the truth is, tax fraud is just a type of tax evasion. Here is what Connecticut laws say about tax evasion and tax fraud.