The Internal Revenue Service’s Criminal Investigation Division is reminding taxpayers to file accurate tax returns and choose a tax preparer wisely.
The nation’s tax season starts tomorrow, Friday, Feb. 12, when the agency begins accepting and processing 2020 tax year returns.
U.S. persons are subject to tax on worldwide income from all sources. Most taxpayers meet this obligation by reporting all taxable income and paying taxes according to the law. However, those who willfully hide income should know that the IRS works across its divisions to ensure the highest possible tax compliance.
Taxpayers found to be committing fraud may be subject to penalties including payment of taxes owed plus interest, fines and jail time.
IRS Criminal Investigation reminds taxpayers to file accurate returns
Submitted article
CINCINNATI The Internal Revenue Service’s Criminal Investigation Division (IRS-CI) is reminding taxpayers to file accurate tax returns and choose a tax preparer wisely. The nation’s tax season starts on Friday when the agency begins accepting and processing 2020 tax year returns.
U.S. persons are subject to tax on worldwide income from all sources. Most taxpayers meet this obligation by reporting all taxable income and paying taxes according to the law. However, those who willfully hide income should know that the IRS works across its divisions to ensure the highest possible tax compliance. Taxpayers found to be committing fraud may be subject to penalties including payment of taxes owed plus interest, fines and jail time.
Internal Revenue Service says: Choose your tax preparer carefully
IRS Criminal Investigations
ALBUQUERQUE The Internal Revenue Service’s Criminal Investigation Division (IRS-CI) reminded taxpayers to file accurate tax returns and choose a tax preparer wisely. The nation’s tax season starts on Friday, February 12, 2021 when the agency begins accepting and processing 2020 tax year returns.
U.S. persons are subject to tax on worldwide income from all sources. Most taxpayers meet this obligation by reporting all taxable income and paying taxes according to the law. However, those who willfully hide income should know that the IRS works across its divisions to ensure the highest possible tax compliance.
Philadelphia Donald Dougherty, of Philadelphia, PA, entered a plea of guilty today before United States District Court Judge Michael M. Baylson. Dougherty, the owner of Dougherty Electric, Inc., ( DEI ), a well-established Philadelphia-based electrical contractor, pleaded guilty to one count of filing a false federal income tax return and one count of theft of employee benefit funds.
On November 25, 2020, Dougherty was charged by Indictment with multiple charges of bank fraud, tax fraud and theft from employee benefit plans. Also charged with tax fraud was Michael McKale, an accountant who worked for Dougherty. Under the plea agreement between Dougherty and the government announced today, in addition to pleading guilty to tax fraud and theft of union benefit funds, the defendant has agreed to pay $92,913 in taxes due to the Internal Revenue Service, arising from false business deductions for what were actually expenditures for Dougherty s personal benefit. The defendant also agr