Empire Tax Solutions

The Legal Implications Of Missing Out On Tax Deadlines

If you’ve been missing out on your tax deadlines, you’d better hope that the IRS doesn’t take you to court for tax evasion. Over the past few years, we’ve seen the IRS become increasingly stringent with the penalties for tax evasion—which is why we strongly suggest that you become proactive with your tax payments and approach the IRS yourself. It’s better to come clean about your missed deadlines than avoiding paying your taxes altogether.

At Empire Tax Solutions, we work with some of the best tax consultants in the country to offer excellent tax relief services. Book an appointment with our consultants to find a way around your tax payments through legal means. We will negotiate with the IRS on your behalf, arrange Offers in Compromise, plan out your tax payments and much more. However, before you make the call—let’s take a look at what’s in store if you’ve repeatedly missed the IRS’s deadlines.

The Tax Crimes Handbook

The Tax Crimes Handbook basically outlines how the IRS deals with people who’re evading taxes and refuse to comply with regulation. It’s a great way to learn about the various tax laws that apply to you and understanding the implications of these laws if you break any of them. It’s a pretty lengthy document that provides an exhaustive treatment of IRS tax laws.

The Legal Implications Of Missing Out On Tax Deadlines

Penalties For Tax Evasion

There are two situations under which the IRS can bring tax evasion charges against you, these are:

  1. Evasion of assessment—Filing false returns or refusing to provide the information needed to accurately determine the tax liability.
  2. Evasion of payment—When the tax liability has been determined and the individual refuses to make payments.

The IRS doesn’t even have to calculate how much taxes are actually owed before they bring the charge against you. The penalty is set as follows:

“Any person who willfully attempts in any manner to evade or defeat any tax imposed by this title or the payment thereof shall, in addition to other penalties provided by law, be guilty of a felony and, upon conviction thereof, shall be fined* not more than $100,000 ($500,000 in the case of a corporation), or imprisoned not more than 5 years, or both, together with the costs of prosecution.”

Failure To File Returns

The code also highlights the importance of filing your tax returns and calls this as an evasion of assessment—which also calls for a charge of tax evasion.

Other Penalties For Failure To Pay Tax

Besides the penalty that we’ve spoken of before, the IRS also uses other means to force the payment out of you. These penalties include wage garnishments, imposing tax liens and even seizing your assets for missing tax payments. The only way to avoid these penalties is by working with someone like Empire Tax Solutions to help you out with the IRS through a comprehensive set of tax relief services.

Get in touch with us today to see how we can help you meet your tax obligations—to avoid possible imprisonment and massive financial damage.