Skip to main content

Can You Get Jailed For Not Paying Tax?


It is very common to find some people overlooking their tax deadlines and not paying taxes for the year. And we, as widely experienced tax attorney Rockville, have seen individuals who neglect their tax payments for two or more years due to various reasons. If you somehow are standing in this position, there’s bad as well as good news for you. The bad news is that unfortunately, you can go to jail for not paying taxes. The good news is that it can still be fixed easily. But you should understand one thing, you cannot go to jail if you don’t have money to pay your taxes. 

What Can Get You in Jail

It is a fact that the IRS never files criminal charges against a taxpayer just because he or she doesn’t have enough money to pay. It’s just that you pay much higher penalties while paying late than you pay the taxes on time. However, these things can get you in jail.
1. Tax evasion: Filing fraudulent returns is one of the tax evasion actions, and it can get you in prison for up to five years.

2. Failing to file a tax return can get you in jail for a year. The prison time increases with every year you failed to file a return.


3. If you help someone to evade their taxes then you can be behind the bars.

Comments

Popular posts from this blog

Have A Hassle-Free Business Audits With Trust Lawyers From Maryland

Being an entrepreneur is not as easy as it sounds. You should have sound knowledge of every business area to be successful in it. Tax season is one of the most nerve-wracking experiences for people in the business.IRS performs an audit on the entrepreneurs to check whether the income and deductions are filled as per the laws. IRS conducts random audits year after year. If they find the reports erroneous, then they raise objections to them. If you feel that managing and filing tax documents is a daunting task for you, hand over the responsibility to trust law Maryland . This expert knows how to communicate with Maryland IRS and will negotiate with them properly. They address the IRS business audit in the following ways : Understand The Scope of The Tax Audit All the documents requested by the IRS are gathered, and answers are prepared in detail. At times the experts do detailed analysis of information related to accounting and record-keeping. If the audits occur in the office or field, ...

Make legal issues easier with Maryland Legal Services

The Estate Taxes Attorney MD has become popular because of its services that it offers in the legal sector. There are various services like asset protection from the legal enemies and the competitors. They have satisfied the clients all around the world and have offered all round personalized solutions to meet out the specific needs and preferences of the customers. The firm has helped the organizations in protecting their assets from various legal threats. This helps in protecting the business and the other assets from the negligence or injury. The IRS tax attorney Maryland is one such organization that will help you in the management of the tax consultancy services along with the debt settlement in the best ways. There are various offshore debt settlements that will be settled with them. The international law firms will definitely help you plan all your debt repayment strategies and make it happen for you at affordable rates. There are various attorneys with whom you c...

Cryptocurrency and Taxes: All You Need to Know

Are you going with the current market trends, or are you unaware of the cryptocurrency surfacing the financial pool? Well, cryptocurrency is a digital currency or, as the IRS quotes, “A Digital Representation of Value.” The cryptocurrency has been in existence for over a decade now, but the audience is getting familiar with it now. Cryptocurrency got popular amongst citizens in the past few years and is now changing the financial culture all over. The Working of Cryptocurrency Tax: Someone who owns cryptocurrency in any amount is known to have a capital asset eligible for capital gains tax. For better or worse, having cryptocurrency on your name means you are liable to pay taxes on every profit gained from the crypto. Just like traditional forms of investment like funds, and stocks, cryptocurrency also is eligible for the standard tax pay on the profit. Added to the notion, the tax payable on the cryptocurrency depends on the time it is kept for. If you have kept the cryptocurrency fo...