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Posts Tagged ‘corporate tax evasion’

Corporate Tax Evasion Costing Over $100 Billion a Year: Study

Approximately two-thirds of U.S. corporations did not pay any federal income tax from 2006 to 2012, the Government Accountability Office said in a release. In 2012, 42.5% of large businesses did not pay federal taxes. These statistics speak volumes about how corporations use loopholes in the tax code to legally evade paying taxes in the U.S. Recent disclosures reveal that the use of tax havens and ...

When does the IRS pursue criminal charges?

July 25, 2015  |   Tax Scams   |   Tags: , ,  

Violations of the Internal Revenue Code such as tax evasion and tax fraud may lead to criminal charges. Cases of tax evasion are dealt with most severely and are more likely to lead to criminal charges. Tax fraud, on the other hand, can lead to civil penalties, and in some cases, criminal charges as well. Investigation by the IRS The IRS receives information about tax fraud and ...