Everyone is required to file tax returns. For those who fail to file them, the IRS may be alerted. If you have been forgetting to file tax returns for some time and the IRS has noticed, it may be a good idea to hire a Chicago Tax Fraud Lawyer.
The following may trigger an audit by the IRS:
- Forgetting to file tax returns
- Keeping inadequate records
- Reporting less income than you actually bring in
- Concealing assets
- Failing to adequately explain certain behaviors
- Engaging in or attempting to conceal illegal activities
- Dealing in cash
WHAT THESE ACTIVITIES MEAN TO YOU WHEN THE IRS FINDS OUT
When an IRS Tax Fraud referral specialist is auditing your interactions with government and your regular business dealings, they can refer you for prosecution. That prosecution can mean five years in prison and $50,000 or more in fines and fees to cover the prosecution of your case.
In order to try to minimize those consequences you may want to hire a Chicago Tax Fraud Lawyer, and the faster you do so, the better. Tax fraud lawyers have seen situations like yours before. They know where to start in handling the situation, how to prepare for the audit and provide sufficient and acceptable information to the specialist to hopefully decrease your chances of being prosecuted. They may be able to help you negotiate your payment plan with the IRS.
HANDLING YOUR TAX AUDIT CORRECTLY
Preparing for a tax audit can be a scary process. Contact a Chicago Tax Fraud Lawyer today, and get an idea of how to move forward. There are filings that may need to be done immediately. There are also actions that should be avoided when preparing for an audit. An experienced lawyer can help you understand the process and help you be prepared for when the tax fraud referral specialist begins the audit