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Tax fraud is an umbrella term used to describe a number of different crimes. Some of the most common ways someone can commit tax fraud include intentionally filing false tax returns, failing to identify your sources of income, or structuring cash deposits to avoid the filing of currency transaction reports (CTRs).
Tax Fraud Charges
The below are considered examples of tax fraud:
- Filing any return, report, protest, or claim for refund containing any false or fraudulent statement known by the person to be false;
- Knowingly and intentionally omitting any fact, circumstance, condition, or thing in any written document, the omission of which constitutes a material misstatement or misrepresentation of fact; or
- Using any trick, device, scheme, or plan to evade or attempt to evade any tax, license, penalty, interest, or other amount due to the state.
Penalties for Tax Fraud
Tax fraud is considered a misdemeanor crime in Georgia. And while that may seem like a relatively minor offense, it carries the possibility of up to one year in jail, fines, and/or restitution.
However, tax fraud crimes can be elevated to a felony if accompanied with other crimes, such as embezzlement, tax evasion, or money laundering.
Proving Intent
Tax law is incredibly complicated. While it is possible to accidentally commit a crime, it’s important to remember that honest mistakes are not usually considered a form of fraud. In order for a crime to be considered fraud, the crime must have been intentional.
No matter what kind of tax fraud or evasion you’re facing, it’s crucial to act fast and get proper legal counsel. Contact Nick Lotito & Seth Kirschenbaum today at (404) 471-3177 so we can take immediate and effective action.