Money is laundered by movement to another source as a means of hiding the true source of the income.
Houston, TX – Most Americans pay their taxes each year without issue. Even when there are minor discrepancies, these are usually resolved through administrative means and the person may owe the IRS or their state government additional money in a worst case scenario. However, in cases where a person is intentionally trying to avoid all of their tax liability or come up with schemes to pay less than they legitimately owe, there is the potential for criminal prosecution. If any taxation issues arise, it is best to get in contact with lawyers who can provide guidance to avoid the worst outcomes of criminal charges and defend against the state’s accusations.
Not paying or filing taxes
If an individual or business just never files or pays their taxes, this can result in criminal charges for tax evasion. To avoid these kinds of problems, Houston tax lawyers will advise their clients that they will owe income taxes and possibly business taxes annually or at more frequent intervals. If a person has not paid their taxes in a long time, the government will eventually notice and take action.
Dishonesty and forged documents
When there are blatant lies on tax forms or fabricated documents filed with an individual’s taxes, this is a problem that the government takes seriously. In most cases, false statements and fake documents are used with the intention of sending much less money to the government than is actually owed. This is sometimes done by lying about excessive charitable donations or very large business deductions. The government can use their investigatory tools to detect these problems, and an individual may be charged and need the services of Texas tax lawyers if they have reported various falsehoods with their taxes.
Laundering of money
Money is laundered by movement to another source as a means of hiding the true source of the income. This is typically done by those who are engaged in some kind of criminal or illegitimate activity to avoid disclosing how much they have actually earned when they file their taxes. This tends to be one of the more serious financial crimes, and people who are involved in money laundering tend to be associated with other illicit activities as well. Tax lawyers can be contacted if there are money laundering or related charges pending against an individual or organization. Their advice can be crucial to avoid a conviction and associated penalties such as fines and jail time.
More information about tax issues
USAttorneys.com is a service that helps people get in touch with a local lawyer. Anyone who needs a referral to a legal professional who handles tax issues or estate planning lawyers can call 800-672-3103 for assistance.
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