False Tax Return Penalty (2018) – IRS Penalties for Filing False Taxes
When it comes to IRS penalties, one of the worst types of penalties a taxpayer can be hit with are penalties involving filing false tax returns.
When the Internal Revenue Service issues a False Tax Return Penalty, it is usually due to the filing of false tax returns, informational returns, FBARs, etc. is because this of penalty typically involves issues such as:
- Income Tax Fraud
- Income Tax Evasion
- Reckless Disregard
- Intentional Misrepresentation
- Intentional Omission
Unlike non-willful counties or negligence penalties which can be bad but or not typically fatal — the penalties associated with making false statements, tax fraud, willful omission of income or foreign accounts/assets can be pretty brutal.
These types of fraudulent penalties can reach 100% value of foreign accounts, and several years in prison.
False Tax Return Penalty
In recent years, the IRS has made offshore enforcement a key priority. Typically, the penalties associated with international tax, foreign and offshore related matters are some of the worst penalties the IRS issues.
What Can You Do?
Presuming the money was from legal sources, your best options are either the Traditional IRS Voluntary Disclosure Program, or one of the Streamlined Offshore Disclosure Programs.
We Specialize in Safely Disclosing Foreign Money
We have successfully handled a diverse range of IRS Voluntary Disclosure and International Tax Investigation/Examination cases involving FBAR, FATCA, and high-stakes matters for clients around the globe.
Golding & Golding, A PLC
We have successfully represented clients in more than 1,000 streamlined and voluntary disclosure submissions nationwide and in over 70-different countries.
We are the “go-to” firm for other Attorneys, CPAs, Enrolled Agents, Accountants, and Financial Professionals across the globe.
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Sean holds a Master's in Tax Law from one of the top Tax LL.M. programs in the country at the University of Denver. He has also earned the prestigious IRS Enrolled Agent credential. Mr. Golding's articles have been referenced in such publications as the Washington Post, Forbes, Nolo, and various Law Journals nationwide.