Tax season is here! While most people dutifully file their taxes, there are individuals and businesses who try and cheat the system. Central Florida Bonding wants you to know that there are repercussions for tax fraud.
Common tax crimes are tax evasion and false accounting practices which are both forms of money laundering.
According to the Internal Revenue Service (IRS), tax evasion is “the failure to pay or the deliberate underpayment of taxes.” Essentially, this means that a person or business is concealing income or other pertinent information.
Examples of tax evasion include:
•Paying someone who works for you without reporting the wages
•Not paying taxes on cryptocurrencies such as Bitcoin
•Not reporting all of your income
•Intentionally failing to pay owed taxes
•Filing a false return
•Concealing sources of income
False accounting practices can include giving untrue information about your company’s accounts to hide its true activities.
If a person is found guilty of this charge, they could face hefty fines and/or imprisonment. Depending on the crime, the charge could be a misdemeanor or a felony offense. Misdemeanor charges could result in up to a one-year jail sentence while a felony conviction could end up with a 30-year prison sentence. Fines could go as high as $250,000.
Taxes are serious and the government will eventually find you if you are underpaying your taxes or not paying them at all. Tax evasion is a very serious offense.
Central Florida Bonding bonds people out of jail for numerous charges including tax evasion, assault, battery, DUI, drug trafficking, child neglect, domestic violence, and more. If you need a bail bond agency, then please give us a call at 407-841-3646. We have a bail bond agent available 24 hours a day, 7 days a week, and 365 days of the year.
All of our bail bond agents are experienced and knowledgeable. They will guide you through the ins and outs of the bail bond process and are able to assist you with paperwork, answer questions, and lend an empathetic ear.
We have been serving all of Central Florida including Orange, Seminole, Osceola, Lake, Volusia, and Brevard counties since 1979. Your neighbors have relied on us in their time of need and you can too! Please give us a call at 407-841-3646 to start the bail bond process.