IRS Tax Fraud

Tax Fraud – Statutes And Penalties

All citizens of the United States are voluntarily responsible for filing their tax return and paying the taxes to the IRS. Tax fraud is considered as a severe crime committed by a taxpayer. Strict measures and actions are taken by the IRS against taxpayers who are involved in tax fraud.

Statutes And Penalties:

After identifying the nature of the fraudulent activities, the IRS will impose statutes and penalties. The following are some statutes and penalties which will be imposed by the IRS depending on the nature of the fraudulent activities:

1 Attempt to defeat or evade tax

• Imprisonment of not more than 5 years
• $250,000 fine for the individuals and $500,000 for corporations
• In some cases both of the above mentioned penalties can be imposed along with the cost of prosecution.

2 Willful failures to pay tax

• Imprisonment of not more than 5 years
• $250,000 fine for the individuals and $500,000 for corporations.
• In some cases both of the above mentioned penalties can be imposed along with the cost of prosecution.

3 Failure to file your return or willfully supply information

• Imprisonment of not more than 1 years
• $100,000 fine for the individuals and $200,000 for the corporations
• In some cases, both the above mentioned penalties can be imposed along with the cost of prosecution.

4 False Statements

• Imprisonment of not more than 3 years
• $250,000 fine for individuals and $500,000 for corporations
• In some cases, both the above mentioned penalties can be imposed along with the cost of prosecution.

5 Interfering with the Internal Revenue Laws

• Imprisonment of not more than 3 years
• $250,000 fine for the individuals and $500,000 for corporations
• In some cases, both of the above mentioned penalties can be imposed

6 Conspiracies to Commit Offense

• Imprisonment of not more than 5 years
• $250,000 fine for the individuals and $500,000 for the corporations.
• In some cases, both of the above mentioned penalties can be imposed

The above mentioned are statutes and penalties which can be imposed by the IRS depending on the nature of fraudulent activity.  If you have any questions about IRS issues such as these, please call us now at (561) 237-5443