“Time and the hour run through the roughest day,” wrote William Shakespeare over four centuries ago. Had he lived during our present-day plague, what might he have written? Indeed, 2020 was a very challenging year for everyone. Outside of individual health risks, most businesses were sorely impacted.
Brotman Law
Criminal Liability and Voluntary Tax Disclosure
If you know you have violated a tax law there’s still a number of things that can be done to help avoid or reduce the most serious penalties. It is important to discuss your options with an attorney at this stage because the best practice can be different for each individual case.
What Is the Tax Crime of Omission?
Death. Taxes. The words added together give us the well-known slogan about the two certainties of life: death and taxes. Is it unfair to pair “taxes” with “death”? Maybe, but only because taxes are treated so (pardon the pun) gravely.
What is the Omnibus Clause?
Lying about taxes, or in any other way trying to skirt the investigation of the government, is, to put it lightly, a risky move. The IRS is fairly unforgiving when taxes are filed incorrectly, so how do you think it will react to corruption?
What Happens at a Tax Crime Pre-Trial?
The IRS has a “Tax Crimes Handbook,” and although you may not find this surprising, within its pages is a long list of what people and businesses have done to willfully avoid paying taxes.
What is a Criminal Tax Administrative Investigation?
You may be aware that the U.S. tax code allows deductions of “ordinary and necessary expenses paid or incurred during the taxable year in carrying on a trade or business.”
Now for Some Good News: An Employee Retention Tax Credit
Today is one of the most challenging times to be a business owner in recent memory. In order to help business owners and incentivize companies to keep employees on the payroll, the IRS introduced the Employee Retention Credit.
Individual Tax Liability In The Time of COVID-19
Few entities are as powerful as the IRS and if you’ve received notification that you owe them, it can be very daunting. Even if you aren’t in debt, you may still be wondering what COVID-19 and the policies put into place last summer might mean to taxpayers this year.
What is a Willful Failure to Collect or Pay Over Tax?
If you have worked a full-time job for a company, you have likely noticed, and anticipated, the chunk of salary held back from your paycheck known as taxes.
What Are Criminal Tax Restitution, Fines and Forfeiture?
For a taxpayer facing a criminal tax sentence the two questions that will resonate in his or her thoughts are: 1) How much will I owe? And, 2) Will I go to jail?