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Tax Evasion


Don’t let those rumors fool you. You may know someone that has stayed clear of the IRS’s finely tuned radar and evaded their IRS Tax Debt for years. But no one evades the IRS forever. The penalties imposed for Tax Evasion are harsh. You not only risk huge fines, but actual jail time.

There are two criteria that the IRS utilizes to determine tax evasion:

  1. "That the taxpayer owed substantial income tax in addition to what was declared in his tax return"
  2. "Willful and knowing evasion of such taxes."

Regardless of which circumstance you fall under, with a maximum fine of $100,000 and a maximum jail sentence of five years, tax evasion is a federal offense. The most common ways taxpayers evade their tax obligations include not reporting their income correctly, failing to file a Tax Return, and Filing False Returns. Believe it or not, any of these offenses are actually punishable by Fines and Jail Time.

Penalties Imposed:

 Here’s a list of some of the penalties imposed if you’re found guilty of IRS Tax Evasion.

  • Failure-to-file penalty is 5% of the unpaid taxes every month or a fraction thereof and cannot be more than 25%
  • Information reporting penalties: Depending on how late the information return is filed, ranging from $15 to $50.
  • Accuracy-related penalty: 20% for understatement of income tax, or underpayment due to disregard of rules, or negligence.
  • Tax penalty for frivolous return is $500 if you file a return that has an erroneous figure or does not show sufficient information to determine the correct tax.

Tax Evasion is a very serious issue. The IRS does not take it lightly, and nor should you. If you have IRS Tax Debt, ignoring it will not make it go away; it will only make it worse. You must promptly take care of your IRS Tax Debt Issues. If the process seems daunting, consider hiring a qualified professional to help you.

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Disclaimer: TaxReliefSource is not a government sponsored website, nor does it dispense tax advice. TaxReliefSource matches consumers with companies that offer tax relief services. For additional help in resolving tax problems, consider contacting the Taxpayer Advocate Service, independent organization within the IRS, at http://www.irs.gov/advocate/article/0,,id=97395,00.html.
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