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St. Louis Tax Law Blog

Reality television family accused of tax evasion

People who have television success often experience a larger amount of scrutiny in a variety of different ways. This is especially true if those people are accused or suspected of committing a crime. In fact, many people in Missouri and across the country are likely following the story of Todd and Julie Chrisley after they were accused of tax evasion and other charges.

The Chrisley family is featured on the show "Chrisley Knows Best" that airs on USA. However, federal law enforcement officers claim that the couple worked to hide their income from the show from the IRS. The couple allegedly created a company that was the recipient of the funds from that show. However, they are accused of failing to include the income from their show on their income tax returns.

The IRS sometimes mistakes negligence for fraud

Like people all over the country, many Missouri residents don't understand the U.S. Tax Code, and that was before all of the changes that came about through the Tax Cuts and Jobs Act. With the extensive changes the act covers, even more people are confused.

If you are among these individuals, the IRS may have contacted you accusing you of criminal conduct in reference to your tax filings. What you attribute to negligence and an honest mistake, the agency calls fraud.

Defining tax evasion

For many people in Missouri and across the country, filing taxes is a daunting task. Many people worry about the ability to pay or the potential consequences of making a mistake while filing. While making a mistake will likely not result in criminal charges, deliberate tax evasion could have significant legal consequences.

The key to whether an act might result in criminal charges is whether it is considered to be deliberate and purposeful. There are two types of evasion: evasion of assessment and evasion of payment. In the former, the person is accused of transferring assets in an attempt to prevent the determination of true liability. In the latter, the person is accused of attempting to hide assets after the payment becomes due.

Do you know your tax deductions as a YouTuber?

Earning a living on YouTube isn't an easy task. If you are one of the few who does this full time, then you probably worked hard to get to that point. After all, not everyone makes it to this point and earns enough money to quit a regular job.

You probably want to make sure that you get to keep as much of your income as possible, which means reducing the amount of taxes you pay. Of course, you have to report all of your income from all sources, which could be a substantial amount. You could employ numerous strategies to reduce your tax liability, and one of them is to maximize your deductions.

What happens when tax evasion is suspected?

Taxes are an important part of supporting the community and government. They provide for a variety of different things that make the United States a great place in which to live. However, some people in Missouri may not file or pay their taxes for a variety of different reasons, sometimes as a result of oversight. Unfortunately, failure to do so could ultimately result in accusations of tax evasion.

The U.S. tax system is based upon the expectation that taxpayers will willingly fulfill their tax obligations. As such, the IRS will undertake certain measures to encourage nonfilers to come forward. These measures include taking voluntary payment into consideration when determining whether criminal prosecution is necessary. Additionally, they will negotiate payment installment plans and a reduction of tax liability.

Tax treatment for married-couple owned businesses

Are you and your spouse considering starting a business together here in Missouri? If so, you have numerous issues to consider, and one of them is more than likely taxes. The information below focuses only on taxation, which is just one factor that goes into making decisions regarding your new business, but the more information you have, the more informed decisions you make.

You may want to explore tax treatment options for your business before deciding on an entity structure since the type of entity you choose often decides how you and your business will pay taxes. If you intend to run the business together as equal partners, then you may want to consider a special tax structure for joint ventures owned solely by married couples.

Could an amended return help your tax overpayment?

Paying taxes is what some Missouri residents may consider a necessary evil. You may be among the many individuals who dread having to file your tax returns and pay any outstanding taxes that you may owe. Of course, in lucky situations, you could get a refund, which many people also look forward to.

You could also face another situation in which the Internal Revenue Service owes you money, and that situation is when you overpay on your taxes. You may think that an overpayment will simply result in the IRS offering you a refund as usual, but that may not be how it works out in some cases.

Business owner accused of tax evasion, pleads guilty

Owners of small businesses are often forced to serve a variety of different roles -- many of which they may have little or no experience or training -- to ensure the business's success. Unfortunately, those who are skilled and knowledgeable at providing a certain service, for example, may feel overwhelmed by the financial management aspect of running a business. This can leave some business owners in Missouri and across the county susceptible to allegations regarding criminal activity over mistakes. In fact, a business owner in another state was recently sentenced to prison after he was charged with tax evasion.

The charges against the man reportedly stem from the taxes he filed for 2012, 2013 and 2014. He is said to have reported the income he made working part time at several different high school's theatre departments. However, he reportedly started his own business in 2012 that involved renting equipment for events, such as proms and weddings. Federal officials claim that he failed to report his income on his taxes.

There's always someone trying to take advantage of taxpayers

It's bad enough to find yourself embroiled in a controversy with the IRS. The last thing you should have to worry about is someone taking advantage of your need or situation, but each year, innocent taxpayers like you fall victim to scams.

In response, the agency issues a list of what it calls the "Dirty Dozen" each year to warn taxpayers about scams others have come across. It does this in part to protect people, but also to remind them that they remain responsible for their tax obligations despite these cons.

Man accused of tax evasion, other tax-related crimes

Most people and businesses in the United States are required to pay taxes. Though there are relatively few people who fully understand federal laws regarding taxes, most in Missouri and across the country are able to successfully file their taxes each year as required. However, when a tax situation becomes complicated -- such as when a person is accused of tax evasion -- it may become necessary to seek guidance from an experienced professional.  

In fact, an out-of-state man is now facing criminal charges after federal law enforcement officials claimed that he did not pay his taxes as required by law. The man is said to have owned four different business in addition to operating a trailer park. Reports claim that the man controlled over 160 business entities that he used to hide his income and assets.

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