Maryland Tax Crimes: Don’t be the Comptroller’s Next Victim

Individuals can be, and are, charged criminally by the federal government for tax offenses. Convictions can result in substantial jail time, hefty fines, and a court order to pay unpaid taxes to the United States Treasury. In addition, the state of Maryland also can, and does, prosecute individuals for tax crimes. Imagine you own and…

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Recent Fraud Cases Highlight IRS Criminal Prosecution Process

With tax season upon us, attentions are turned to tax compliance and how best to stay on the right side of the Internal Revenue Service.  As taxpayers across the country work to prepare their tax filings for the year, it is important for everyone to remain mindful of the types of activities known to trigger IRS…

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Recent Cases Show Government’s Willingness to Prosecute Maryland Tax Fraud

Now that the height of tax season is upon businesses and individuals across Maryland, concerns about compliance and potential prosecution of tax crimes have returned to the forefront. When it comes to pursuing cases of suspected tax fraud, the Internal Revenue Service, Department of Justice, and the Comptroller of Maryland are known for their aggressiveness.…

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Are there federal tax consequences associated with using Bitcoins in my business?

Yes.  Although Bitcoins have been around since 2009, on March 25, 2014, the Internal Revenue Service issued Notice 2014-21 officially declaring that Bitcoins are treated as property for U.S. federal income tax purposes.  Consequently, a taxpayer who receives Bitcoins as payment for goods or services must include in gross income the fair market value of…

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Is there a difference between "tax loss" in a criminal case and tax "due and owing" in a civil proceeding?

Yes. For individuals facing criminal tax investigations, the IRS and U.S. Department of Justice will calculate a “tax loss” for purposes of the U.S. Sentencing Guidelines. The “tax loss” may be more or less than the actual tax due for a particular period because the government may calculate “tax loss” as a percentage of unreported income, unless a more accurate…

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