Robert J. Fedor, Esq., L.L.C.

November 2013 Archives

Ohio couple receives jail sentences in criminal tax matter

An Ohio couple was recently sentenced to serve time in jail after being convicted of tax evasion. The criminal tax matter related to unreported income the couple received from marijuana sales. Both the husband and wife were accused and convicted of avoiding taxes and reporting only a 10th of their earnings.

Ohio construction contractor sentenced for tax crime

While each criminal tax matter is unique, most of them could result in a serious penalty if the accused is convicted. A man who operated a construction consulting business in Ohio was recently sentenced after being convicted of a tax crime on July 12. In addition to a 30-month prison sentence, he must now pay the IRS over $46,000 in restitution. He will also be supervised for one year following his release from prison.

A cautionary tale for small business owners who deal in cash

Business owners are required to keep accurate financial records and report all earned income to the Internal Revenue Service. This includes income acquired through cash transactions. When business owners fail to keep track of and report income from cash payments, they don't pay taxes on this money which is illegal. If discovered, business owners may face hefty fines and penalties as well as criminal charges related to tax evasion.

Factors contributing to alleged tax crimes often complex

When dealing with matters related to alleged tax crimes, officials at the Internal Revenue Service tend to view such matters as being black and white. In reality, however, most allegations related to tax crimes involve several shades of grey.

Is an IRS audit in your future?

Every American taxpayer could potentially be the subject of an audit by the Internal Revenue Service. While some IRS audits appear to be completely random and the result of pure bad luck, there are definite steps taxpayers can take to increase the likelihood of being audited.

IRS using John Doe summonses to crack down on tax evasion

Most people take steps to actively protect and preserve personal wealth and assets. Individuals are readily encouraged to establish budgets and invest assets in an attempt to be fiscally responsible and ensure assets grow and are readily available. These actions to preserve wealth often extend to tax obligations and may result in an individual hiring a tax professional or taking steps to avoid paying high taxes.

Advice for indivdiuals who missed the Oct. 15 tax deadline

We recently wrote a blog post about the recent Oct. 15 tax deadline for those individuals who were previously granted a six month tax extension. That deadline has now passed and those taxpayers who failed to meet the Oct. 15 deadline may now be in a panic.

Despite personal beliefs, couple found guilty of tax evasion

Despite personal convictions and affiliations, all qualifying U.S. citizens are subject to both state and federal tax laws. A 49-year-old man and his 41-year-old wife recently faced criminal charges of tax evasion related to allegations of underreporting income for the tax years 2004 through 2006.

Problems may arise when a move is made to avoid paying taxes

Residents who live in Ohio are required to pay applicable state taxes as well as taxes on income earned in the state. For those individuals who own one home and live year round in Ohio, there's little question about state taxes. For those individuals who move or have one or more residences in another state, however, tax matters can quickly get complicated.