Author: Norman Spencer
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What are the Penalties for Tax Evasion and Tax Fraud?
If you find yourself navigating the turbulent waters of a tax fraud accusation, understanding the potential penalties and the gravity of the situation is paramount. Tax fraud, a serious offense, involves intentionally misleading tax authorities like the Internal Revenue Service (IRS) or state tax agencies by providing false information or submitting a fraudulent tax return.…
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What is the Statute of Limitations for an IRS Audit?
Understanding the IRS Audit Statute of Limitations: Key Time Limits and Exceptions in Tax Audits Understanding the complexities of IRS audits and their statutes of limitations is crucial for every taxpayer. The statute of limitations limits how long the IRS has to audit a tax return, typically three or six years. However, in some instances,…
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What Is Tax Fraud? Your Essential Legal Guide
Tax fraud is a significant concern for anyone with taxable income, including individuals and businesses of all sizes. With its detailed and sometimes complex rules, the federal income tax law can lead to misunderstandings or missteps, potentially resulting in accusations of fraudulent tax returns. This guide aims to clearly understand what tax fraud involves and…
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What is a Target Letter from the Federal Government?
What is a target letter? Receiving a target letter from the federal government, such as the Department of Justice or other federal law enforcement agencies, is a significant event. It indicates that you are now under serious scrutiny in a federal criminal investigation. This letter suggests there’s substantial evidence linking you to a crime, marking…
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Your Guide to Medicaid Fraud in New York City
Medicaid fraud investigations in New York typically begin when a Medicaid fraud investigator obtains information suggesting that a person is illegally receiving Medicaid benefits. This may involve false information on applications or reselling products acquired through the Medicaid program. Evidence can come from various sources, including business and payroll records or even insights from co-workers…
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What is the Difference Between Tax Avoidance and Tax Evasion?
Taxes play a crucial role in our society, funding necessary public services and infrastructure. However, there’s often a cloud of confusion surrounding the terms ‘tax evasion’ and ‘tax avoidance,’ with many individuals unclear on the significant legal distinctions between them. While both concepts revolve around reducing tax liabilities, they diverge sharply in their methods, legality,…