Las Vegas Tax Law Attorney

IRS special agents often work for the criminal investigation arm of the IRS and have a wide variety of responsibilities, which include conducting audits, investigating criminal tax violations, investigating cryptocurrency crimes, gathering evidence for criminal tax violation cases, forensic accounting, investigating money laundry, and many other tasks related to investigation and prosecution of tax crimes. Being contacted by an IRS special agent can be overwhelming, but you don’t have to face the situation alone when you call the trusted Las Vegas tax attorneys at Silver Law, PLC, for advice and representation. We are ready to help you!

The IRS can audit you for many reasons. In some cases, it is just random selection. In others, a red flag in a tax return might have been identified. If your tax returns include mismatched information or discrepancies, you could have a higher chance of being audited. High income filers and those with foreign accounts are more susceptible to being audited as well. If you are being audited or believe you will be, reach out to a tax lawyer to make sure you take every precaution possible to avoid negative consequences.

Yes, the IRS can freeze your bank account if you have not paid your taxes, but it happens as a part of a process. First, you will receive a bill for the amount due. If you don’t pay, you will be sent a Final Notice of Intent to Levy as well as a list of your rights. This typically comes 30 days before any action is taken. If the IRS does not receive a response from you, they can legally contact your bank account and freeze your funds. The bank will hold the funds for 21 days, giving you one last chance to resolve the issue, and then they will transfer them over to the IRS. If you owe taxes, you should pay them as soon as possible so your bank account does not get levied. Or if you believe the taxes you owe are in error, contact our tax lawyers for help with the appeals process.

Anyone can be prosecuted by the IRS for tax evasion. Generally speaking, businesses, high income earners, owners of cryptocurrency, and owners of offshore accounts are more likely to be audited and prosecuted because they have more options for hiding, transferring, or concealing their assets and income than other individuals do. But no one is immune to an audit or allegations of criminal tax evasion, which is why it’s imperative to keep accurate and detailed records, complete your tax forms honestly, and seek legal advice regarding your tax obligations. If you’re facing prosecution for tax evasion, immediately contact a trusted Las Vegas criminal tax attorney for representation and advice.

Although they sound similar, there is a significant difference between these two approaches to taxes. Tax avoidance is legal and is the process of lowering your overall tax obligations through careful transactions and financial planning. Individuals and businesses may take advantage of tax incentives, deductions, charitable contributions, and many other elements. Tax evasion is a criminal activity in which information is deliberately hidden, omitted, or falsified in order to reduce tax liability. Ultimately, the distinction may come down to whether the person had fraudulent intent.

There are many situations when seeking assistance from a Las Vegas tax fraud attorney is imperative:

-If you’re facing an IRS audit
-When you want to contest or negotiate an outstanding tax bill
-Whenever you need representation against the IRS
-If you’re facing allegations or charges of criminal tax activity, such as fraud or evasion
-Your spouse is facing criminal tax charges and you did not know about their activities
-You have questions about how to report your international income or accounts
-When you need guidance on how to structure or re-structure your business
-Anytime you have a tax dispute or controversy

Not everyone needs to file a tax return each year. However, the penalty for not filing is worse than the penalty for a late filing, so you should consult your Las Vegas tax attorney firm for guidance if you are wondering whether you’re eligible not to file a tax return. Individuals and businesses who are required to file a tax return and fail to do so will face penalties from the IRS. For most people, this will be 5% of their unpaid tax liability for each money that their return is late, up to 25%. The IRS can also assess fines and interests, tax liens, and even criminal charges, depending on the circumstances. Failing to file taxes when you’re required to do so also means you will not be able to claim your tax return if you’re owed one.

If the criminal investigation arm of the IRS is investigating you, there may be several signs. Your bank records and your accountant may be subpoenaed, an IRS auditor from the collections or examinations division who was in contact with you may stop communicating with you, previous tax returns may be selected for an audit, you may receive an unusually large number of document or bank record requests from an IRS agent, or you may receive many questions of intent from the IRS agent who is examining your records. In some cases, an IRS special agent may come to your home or business seeking information. Taxpayers should immediately contact a Las Vegas criminal tax lawyer for advice if you are facing any of these situations.

Tax fraud and tax evasion are serious crimes and the consequences can be hefty. If the IRS determines you intentionally committed wrongdoing on your taxes, but the case was not severe enough for criminal charges, you could face significant fines. For more serious fraud and evasion, you could face a felony on your record, years in prison, fines of up to $250,000 for individuals and up to $500,000 for corporations. If you believe you are being investigated for tax fraud or tax evasion, reach out to our tax lawyers right away and we will make sure your rights are protected and you are aware of all of your options moving forward.

Yes, you certainly can get your debt taken care of without going to court. There are several programs the IRS has put into place to provide relief and help you get out of tax debt. “Offer in Compromise” allows you to settle for more than you owe if you meet the necessary criteria. You could look at creating a payment plan with the IRS, allowing you to pay the debt overtime. If paying the tax debt would cause significant financial hardship, there are programs that will help you avoid going to court during this time as well. When you’re facing an overwhelming amount of tax debt, reach out to our tax lawyers at Silver law to see what options would be most advantageous to you.