Legal Question in Tax Law in South Carolina

been turned in to irs

my husband is self employed he has been for several years not filing taxs on his business an not claiming all on personal i file alone. i think someone has turned him in if so how long do we have before the irs sends a letter or knocks on the door an what if we cant afford a lawyer /


Asked on 6/25/03, 7:12 am

1 Answer from Attorneys
Lawrence Graves Coolidge & Graves PLLC

Re: been turned in to irs

Doesn't sound good.

Ordinarily, if a taxpayer comes forward and files amended or delinquent returns before the IRS commences a fraud or evasion investigation, they will only hit the taxpayer with late-filing penalties and interest, and there is virtually no risk of criminal prosecution. However, if an active investigation is ongoing, all bets are off as to criminal exposure.

Best idea is to hire a Certified Public Accountant to file any missing returns and amend any that understate income, with the goal of filing the returns before an investigation commences. If you do get any kind of inquiry from the IRS, then you need to IMMEDIATELY retain experienced criminal tax counsel.

Best wishes,

LDWG

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Answered on 6/25/03, 10:09 am


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