As professionals in tax return Kissimmee we know that misrepresenting your income or concealing one or more sources of your income from the IRS is classified as a fraudulent activity. Filing an underreported tax return Kissimmee can cost you more than the evaded tax amount. It can also lead to conviction, prosecution and imprisonment.
Usually, fraudulent Kissimmee tax returns are identified by forensic scientists employed by the IRS. A former disgruntled employee or family member can also report the case to the IRS which eventually causes IRS to investigate the business owner. In case you had mistakenly underreported your income, here are some tips that can help you redeem your status with the IRS:
Seek help from a competent Tax Preparer in Kissimmee.
There are strict actions and penalties imposed on taxpayers who indulge in such malpractices. In case you are indicted for such charges, hire an experienced tax advocate. A tax advocate can help you reduce your penalties by providing compelling arguments against the case registered on you. An accountant or a general attorney might not be helpful as they lack the relevant experience and competency to comprehend the complexities of indictment and help you overcome them. Client-accountant privileges are not recognized by the court, and often it is the testimony of accountants that are used to make a case against you. Therefore, be very careful about asking your accountant to testify for you.
Tax Return Kissimmee Tip – Don’t talk with the IRS.
In the United States, tax crimes are classified as a specific intent offense which requires the IRS to prove beyond a reasonable doubt that you are guilty of filing fraudulent returns or misrepresenting your income. Often, the IRS does so by using your own confession against you. Even if you are prosecuted, do not talk to any federal agent as your statements are vigilantly recorded. In case you need to communicate with the agents, do so in presence of your counsel or any unbiased legal authority.
As tax return Kissimmee experts, we recommend that once IRS has made a case against you, avoid making rash decisions and panicking. Even though it might not be apparent, but IRS monitors your actions and communications with others in a critical manner. In such cases, remain calm and conduct all your actions with the advice of your tax attorney.
In case, the evidence and facts are against you, consider making a voluntary disclosure to the IRS. Voluntary disclosure can be availed by the guilty till the time that IRS has not started investigating tax returns in Kissimmee. Discuss with your tax attorney if you are considering making a voluntary disclosure.
In case your tax attorney and you think that a voluntary disclosure is the best course of action, ask the IRS head investigator whether your case is still in progress or not. If the investigation is not yet open, ask your attorney to prepare a statement that specifies that the tax payer is willing to file an appropriate and amended tax return Kissimmee and pay the correct tax thereon. If the IRS agrees, you will be asked to file amended tax return along with civil audit of your financial affairs.
If you need more information about our, Orlando accounting and tax services, please contact us at 407-502-2400. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting and tax firm has its main offices in Kissimmee, FL. Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, and Hunters Creek, FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin numbers, incorporations, and non profit 501c3 tax exempt status applications.
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