Tax Fraud is a Crime

14 Real Examples of Tax Fraud

(1) Underreporting income and lying about how much you earn.  

(2) Pocketing cash to avoid paying tax. 

(3) Inflating business expenses, e.g. paying household expenses and other bills through the business. 

(4) Making up phony-baloney business expenses. 

(5) Using fake social security numbers.

(6) Cooking the Books, viz. keeping two sets of books. 

(7) Claiming exemptions for you’re not entitled to, viz. fake husbands, wives, children and dependents.   

(8) Concealing your crimes by destroying computers, books and documents. (9) Doctoring up checks, receipts and records, e.g. overstating expenses, understating or misclassifying income. 

(10) Hiding financial information from the IRS. 

(11) Transferring assets away from the IRS. 

(12) Creating or inflating charitable deductions. 

(13) Failure to file tax returns. 

(14) Lying to the IRS, e.g. deliberately making false statements while under oath. 

If you’d like more information about tax fraud, call Selig & Associates directly. 

"Just the Facts"

Are you attempting to evade or defeat paying taxes? Upon conviction, the taxpayer is guilty of a felony and is subject to other penalties allowed by law, in addition to (1) imprisonment for no more than 5 years, (2) a fine of not more than $250,000 for individuals or $500,000 for corporations, or (3) both penalties, plus the cost of prosecution (26 USC 7201).

Fraud and false statements Upon conviction, the taxpayer is guilty of a felony and is subject to (1) imprisonment for no more than 3 years, (2) a fine of not more than $250,000 for individuals or $500,000 for corporations, or (3) both penalties, plus the cost of prosecution (26 USC 7206(1)).

Willful failure to file a return, supply information, or pay tax at the time or times required by law This includes the failure to pay estimated tax or a final tax, and the failure to make a return, keep records, or supply information. Upon conviction, the taxpayer is guilty of a misdemeanor and is subject to other penalties allowed by law, in addition to (1) imprisonment for no more than 1 year, (2) a fine of not more than $100,000 for individuals or $200,000 for corporations, or (3) both penalties, plus the cost of prosecution (26 USC 7203)