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Potential consequences of a conviction for tax fraud

White collar crime includes criminal behaviors that involve an element of financial misconduct committed through various schemes or intentional acts. The intent of this type of crime is financial gain or accessing sensitive information. Tax fraud is a common type of white collar crime, and there are various ways one could commit this act. If you are under investigation for tax fraud or are already facing formal charges, the potential implications for your future are significant. 

A conviction of a white collar crime could result in consequences and penalties that may alter the course of your life. It is in your interests to take your situation seriously and fight for your future. A strong defense strategy allows you to confront these charges effectively and pursue the most beneficial outcome to your individual situation. 

What is tax fraud? 

Tax fraud is the intentional act of paying less of the amount owed for taxes or failing to pay altogether. It can include misrepresentation on tax forms or omission of required data. The law states that taxpayers must file a tax return and pay the correct amount owed. Common ways that tax payers and businesses may commit tax fraud include: 

  • Misrepresentation of one’s financial affairs in order to falsely claim deductions or tax credits 
  • Purposefully failing to file a tax return 
  • Preparing and filing a false tax return 
  • Intentionally avoiding paying tax debt 
  • Failing to report all income received 
  • Failing to report cash payments to some employees 
  • Failure to file income tax reports 
  • Failure to report and withhold required taxes

Both individuals and businesses may commit tax fraud. In some cases, heavy fines and penalties, including interest on unpaid taxes, may be a consequence of this illegal act. In some cases, someone found guilty of this type of white collar crime could face time in prison. 

The best defense strategy for you 

The best defense strategy for you is one custom-tailored to your needs and interests. An assessment of your case, including the evidence brought by the prosecution, your criminal record and other factors, can reveal the most effective way to create a plan that will allow you to confront these charges and seek to mitigate the possible penalties you are facing or avoid a conviction altogether.  

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