Parallel proceedings occur when the Internal Revenue Service (IRS) investigates you for both civil and criminal tax fraud charges at the same time. The IRS can audit your tax returns and related documentation at any time, and in the process, if they suspect criminal acts on your part, open a parallel proceeding that is more serious than a civil one.
For the IRS, parallel investigations ensure that all pertinent evidence is identified and gathered to prosecute and penalize those they believe are evading taxes or have turned in fraudulent tax returns. Because the IRS can seize assets in a civil investigation, before a criminal one is even filed, it is imperative that you enlist the help of a Whiteford Tax Defense attorney skilled in protecting your rights and resolving Richmond tax fraud parallel proceedings.
The IRS uses parallel proceedings to its advantage instead of criminal investigations because agents do not need warrants to execute searches in some situations, making evidence gathering easier. Substantial penalties can be imposed when taxpayers are found guilty of reporting less taxable income than they earned or that they evaded paying taxes. A parallel investigation can lead to quicker resolutions, so you do not have to wait long to learn to know your tax liability.
The IRS could uncover other crimes, such as money laundering and corruption, while conducting parallel investigations and deter people who contemplate engaging in tax fraud. If you find yourself the subject of Richmond civil and criminal tax fraud parallel proceedings, seek immediate advocacy from Whiteford Tax Defense, the only criminal tax lawyer in the area.
The IRS instigates parallel investigations that are conducted by coordinating agencies. These agencies can include:
Your finances and assets are thoroughly examined for links to co-conspirators and evidence of tax fraud. The finances reported on your tax returns are compared to what other sources say about your taxes and assets, such as accountants, lawyers, business associates, family, and financial institutions. Investigators will use the gathered information to build civil and criminal cases that have consequences if you are prosecuted. Because the consequences for tax fraud can be severe in some cases, a Richmond attorney well-versed in defending clients targeted in parallel proceedings should be consulted immediately.
The type of penalty depends on how severe the IRS determines your offense is. For a civil charge of falsifying several hundred dollars on your income or deductions, you can be fined. For criminal charges based on significant amounts of money and willful fraud over a long period of time, consequences include jail or prison time and fines.
The IRS may also resort to seizing property, freezing bank accounts, and causing you to lose a professional license. With competent help from a lawyer, harsh penalties may be lessened or avoided in Richmond tax fraud parallel investigations.
Parallel proceedings subject you to civil and criminal investigations at the same time, conducted by numerous government agencies and law enforcement. You should let our Whiteford Tax Defense attorney represent your interests. With vast experience in Richmond tax fraud parallel proceedings and other tax disputes, you are in the competent hands of an attorney who will resolve your investigation through strategies tailored to you. Contact us today.