Posts Tagged ‘tax law’

Tax Fraud Lawyers Their Main Function

Tuesday, February 23rd, 2010

It is surprising just how many people try to escape their duty to pay tax to the federal government each year. If you fail to pay your taxes, it is a crime in the United States as it is any almost every country. Evading tax is considered a very serious offence in every country as this affects the running of a government and perpetrators are dealt with severely. Most often these so called ‘clean crimes’ are carried out by what are considered respectable people that have not been in trouble with the law in the past.

There are types of tax fraud and degrees of seriousness with tax evasion the most important but it can also refer to the small business that is just late in filing their tax report for the financial year. Anyone accused of this crime will probably hire a tax fraud lawyer to represent their interests.

Do not mistake a tax fraud lawyer for someone you will contact to help file your tax returns as their sole purpose is to represent people accused of tax crimes. There are two situations where a person or firm will seek their help; when they suspect their affairs are being looked into by the IRS or where they have been formally charged with the offence of tax fraud. Often the purpose of hiring a tax fraud lawyer is to assist with negotiations between themselves and the IRS to come to an arrangement where the taxes due can be repaid without a term of imprisonment for tax fraud.

A number of tax fraud cases are found to be the result of tax liability ignorance on the part of the accused and not because they are trying to defraud the government. The situation can also be the result of poor advice from a tax consultant which is normally able to be rectified.

In these circumstances it is the responsibility of the attorney to provide proof that their client was an innocent victim of poor advice and did not have any intention to avoid their tax responsibilities. The need to choose a tax consultant that has proper qualifications cannot be underestimated in circumstance like this if investigation by the IRS is too be avoided.

The normal approach by a tax fraud lawyer will be too reason the argument that prosecuting the individual or company will not serve the public interest as recovery of the taxes owed is less likely. A competent lawyer will be able to put this point across so effectively that a payment solution usually by regular instalments will be considered instead of those which rely on a prison sentence.

The more you know the better decisions you can make, like the topic of Tax Shelter Annuity. Join us Oregon 529 tax deduction.

  • Share/Bookmark

Massachusetts Tax And Budget Proposal

Monday, February 8th, 2010

The $28.2 billion budget is headed over to the Massachusetts state Senate and House for consideration. The House and Senate will create their own version of the bill before sending it back to Governor Patrick once again. The new budget proposal is for the fiscal year 2011, which begins on July first.

I have taken the liberty of plucking several note worthy components of the budget proposal:

By getting rid of the sales tax exemption for candy and soda, the Governor would in effect be instituting a new tax increase. The budget calls for taxing soda and candy in the hopes of raising an additional fifty-two million. This new revenue would go towards health prevention programs setup to educate the public about healthy choices and habits. The new budget calls for tax hikes on cigars and smokeless tobacco too.

The new budget proposal cuts back on a tax credit program hoping to bring film producers to Massachusetts. Massachusetts film industry insiders argued that cutting the program is shortsighted seeing as the program has been doing well. It has generated more than $1 billion in economic activity over the last four years, but the program is expensive to maintain.

Cuts have also been made reducing a life sciences tax credit designed to lure companies to Massachusetts. While this program has enjoyed success and creation of new jobs for Massachusetts, the program is expensive. The credits will not be eliminated, simply reduced.

The budget proposal will continue to fund the Commonwealth Care program. This program extends health care coverage to 170,000 adults. It is a component from the state’s 2006 health care law.

Gov. Patrick’s budget proposal depends in part upon $600 million in federal aid. The catch is that Congress hasn’t yet approved the bill and if it doesn’t pass, than additional cuts will be needed. The 2011 budget proposal will be a three percent increase over last years budget.

Massachusetts tax attorney Richard M. Stone specializes in advising businesses on sophisticated federal and state tax issues. If you need the help of Massachusetts tax lawyers, get in touch with the Law Office of Richard Stone.

  • Share/Bookmark