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Tax Fraud and Tax Evasion - South Carolina White Collar Crime

July 4, 2022

Can negligent errors cause tax fraud charges? Yes. Legitimate businesses and business people can face serious state and federal charges relating to their income, taxes, and expenses. In 2020 over a dozen people faced tax evasion charges relating to their employers tax filing practices. And, in 2022 a major operation charged a dozen people in South Carolina also with tax related fraud. Now, while these two stories highlight some major criminal charges, small businesses and individual South Carolina residents can also come under scrutiny. Even if you have an accountant, or if you do taxes yourself, the mistakes might not be apparent. A mistake can be taken the wrong way and you could face tax evasion charges.



What is Tax Fraud and Tax Evasion?

There are ways to fight these charges. Even honest mistakes are illegal and can be penalized by state and federal tax authorities. If your situation is due to someone else’s mistakes or through unknowing actions, you have options. Tax evasion can be: neglecting to file a tax return, misrepresenting deductions, or making false statements regarding taxes. Tax evasion can also be evading the assessment of taxes or evading the payment of taxes.

 

Avoiding the assessment of taxes might look like underreporting income or overreporting deductions. Avoiding payment can be construed as having the funds but unwilling to hand them over.



What are the penalties?

Tax evasion is a white collar crime. White collar crimes are categorized by their usually non-violent nature. They are also usually financial in nature. Partly for these reasons and unfortunately for those who are facing them, the consequences of a conviction include heavy fines.

 

South Carolina’s felony tax evasion offenses come with up to 3 years of jail time and $10,000 in fines. Federal tax evasion charges are more punitively prosecuted. Fines of $100,000 can be levied against individuals. Prison time is always a possibility.

 

Tax authorities could do a variety of things if you’re charged with these crimes. They could forcibly seize assets, freeze bank accounts, and shut down your businesses. Avoiding these things while you’re fighting these charges is one of the benefits of retaining a strong criminal defense legal team.


Who We Are - South Carolina White Collar Lawyers

Your case is unique and needs to be reviewed by a knowledgeable criminal defense attorney before they can tell you what your situation is. Depending on your circumstances there’s different ways to push for a drop in charges, alternative solutions, or a plea bargain. If necessary, going to trial is also an option.

 

The McCoy Law Group is headed by Peter McCoy. Peter is an native South Carolinian. He’s got over 20 years of experience at all levels of the state’s legal system. He’s a former state legislature and US Attorney. If you’ve got a criminal defense issue he can guide you towards the best solution. Contact us today.

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As a whistleblower, you have the right to report tax fraud, and it's important to do so for the good of society. But what happens if you're retaliated against for doing the right thing? Our firm understands how scary it can be to come forward and report fraud. That's why we want you to know that you have rights and protections under South Carolina law. We also have reliable whistleblower retaliation lawyers ready to fight for you if you experience retaliation.

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