Category: Tax Fraud

Tax Fraud in Texas Could Land You a Jail Sentence

By: Brandon Fulgham

Tax Evasion | Tax Fraud

Tax time is once again upon us. Even if you think that you’re due for a nice rebate, the tedium of filling out tax returns compels most of us to put it off until the last minute — or to pay someone else to do it for us.

If you do decide to file your taxes on your own, if you’re not careful when filling out your returns, you could end up facing a far more serious consequence than missing out on a part of your refund: tax fraud charges.

Likewise, if you don’t hire a competent tax professional, you could end up falling victim to fraudulent practices, in which tax preparers commit tax fraud on behalf of their clients, [...]

Tax Time’s Coming – Can Texans Commit Fraud by Mistake?

By: Brandon Fulgham

Tax Evasion | Tax Fraud

Individuals who intentionally attempt to evade paying their taxes can face hefty penalties.

How hefty? Fines can reach as much as $100,000 and crimes can carry jail sentences of up to five years imprisonment. However, not paying all of your tax does not automatically make you a criminal.

Although it’s a thin line between tax avoidance and evasion, avoidance is simply doing what you can to lower your effective tax rate. This is something that is not only perfectly legal and allowed, but actually encouraged.

When you claim a mortgage interest deduction or fill in your dependents’ information, you are avoiding tax. In fact, every big box tax preparer has built their entire business model on tax avoidance, touting how [...]