Cracking Down: The IRS is impartial. They don't care if you're famous or rich. If you're trying to avoid paying taxes, they're going to catch you. And when they do, the penalties will be fierce. Recently, Dancing with the Stars Winner and famous Race Car Driver Helio Castroneves has been charged with conspiracy and six counts of Tax Evasion for failing to report income to the IRS.
Singing the Blues: So now you know the IRS can legally send you to jail for not filing.Have you neglected to file your taxes? You may be on the fast track to suffering Wesley Snipe's fate. But don't worry, it's not too to find a solution for your Tax Debt.
The Crime: Not reporting your income is a crime. There are a lot of freelance workers that think they can hide their money in offshore accounts like Helio Castroneves did. You can move your income to any bank you want. But you better report that money to the IRS if you want to stay out of jail and avoid extravagant fines.
The third crime of which you can be convicted under law is failure to file an income tax return. As a misdemeanor, you can face 3 years imprisonment and a $25,000 fine for each year you failed to file your income tax return.
The Scam Check-list: If the tax professional you are working with is guilty of any of the offenses listed below, watch out! They are only out to scam you! -They ask for your credit card number over the phone -They tell you that they're 100% positive your debt can be settled for Pennies on the Dollar -They are evasive about questions you ask them.
Wesley Snipes and Helio Castroneves. So file your back taxes! If you need help with filing your taxes or have any other questions about your issue with the IRS, now is a good time to seek professional help with getting your finances back in order.
Singing the Blues: So now you know the IRS can legally send you to jail for not filing.Have you neglected to file your taxes? You may be on the fast track to suffering Wesley Snipe's fate. But don't worry, it's not too to find a solution for your Tax Debt.
The Crime: Not reporting your income is a crime. There are a lot of freelance workers that think they can hide their money in offshore accounts like Helio Castroneves did. You can move your income to any bank you want. But you better report that money to the IRS if you want to stay out of jail and avoid extravagant fines.
The third crime of which you can be convicted under law is failure to file an income tax return. As a misdemeanor, you can face 3 years imprisonment and a $25,000 fine for each year you failed to file your income tax return.
The Scam Check-list: If the tax professional you are working with is guilty of any of the offenses listed below, watch out! They are only out to scam you! -They ask for your credit card number over the phone -They tell you that they're 100% positive your debt can be settled for Pennies on the Dollar -They are evasive about questions you ask them.
Wesley Snipes and Helio Castroneves. So file your back taxes! If you need help with filing your taxes or have any other questions about your issue with the IRS, now is a good time to seek professional help with getting your finances back in order.
About the Author:
Frank Miller has a Debt Consolidation Blog & Finance, these are some of the articles: How Would A Payday Loan Pass A Relationship Test? You have full permission to reprint this article provided this box is kept unchanged.
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