Life for many families can be complicated. With all the responsibilities that fall on the shoulders of people in Missouri and across the country in their dual role of parents and business owners, the fact that something might fall through the cracks is not far-fetched. Unfortunately, if a person were to fail to submit an income tax filing, it is possible that federal prosecutors will view this oversight as deliberate tax evasion rather than a simple oversight regardless of the circumstances.
There are some large companies in Missouri that employ an entire team of financial workers to help ensure that payments are properly documented, wages paid and earnings reported. However, there are other, smaller businesses that do not have the means to hire such financial professionals, leaving many of the the financial decisions to rest on the shoulders of owners. Though it may be easy to make a mistake or miscalculations, federal officials may view an innocent oversight as deliberate tax evasion.
Many business owners in Missouri and across the country are dedicated to paying their fair share of taxes. Despite this dedication, there may be oversights that may seem minor but could be perceived as an attempt of tax evasion. For example, a business owner may opt to deposit a check written out to him or her into a personal bank account rather than that of the business, with no thought that doing so could be perceived as suspicious to the IRS.
Couples in Missouri manage their money in different ways. While some may combine all their assets, with both spouses having access to all accounts, others keep their finances separate. It is unclear how the finances of a couple in another state who were recently indicted on tax evasion charges had their assets divided.
April 15 is often a dreaded date for many individuals and businesses in Missouri and across the country as that is the day that taxes typically must be filed. Though most people enjoy the things that taxes fund -- such as public libraries and well-maintained roadways -- few people enjoy parting with their hard-earned money. Despite this, most people do not attempt tax evasion.
Anyone in Missouri who has completed -- or attempted to complete -- their own taxes likely knows of the complexity associated with the process. Unfortunately, it is easy to make mistakes. Despite knowing how difficult filing taxes can be, prosecutors may be quick to assume that what is exactly a mistake is an intentional oversight, resulting in accusations of tax evasion.
Everyone has to pay taxes, and everyone usually tries to pay as few taxes as possible. There are a few legal ways to use the tax code to one's advantage. This is generally considered tax avoidance, and it is not necessarily a bad thing. There are also a few illegal ways to exploit the tax system--and this crosses the line into tax evasion.
Any fan of the TV show Seinfeld remembers the classic soup restaurant episode and its now-infamous star character: A chef with strict orders on how customers were allowed to order soup.
Sure, no one likes to pay taxes. Tax evasion is a serious crime, but that doesn’t stop some people from trying to get away with it.
The old cliché is true: The only sure things in life are death and taxes. You only have to die once, but you do have to pay taxes every year. If you fail to pay your taxes on time, you could face serious charges of tax evasion.