If you perpetrate tax evasion & get caught by the IRS, what happens?

Question

If you tell the IRS that you'll pay back in full plus any back taxes, does your name get cleared of any offense & live your free life or is there a mandatory jail time?

Answer 1

In nearly all cases if you come to the IRS before they come to you, all you need to do is pay the taxes and any penalties and interest due. The IRS would rather you stay out of prison where you can earn enough money to pay your debt than have to wait out a prison sentence.

If the IRS decides to prosecute, the courts decide what the punishment, if any, will be.

Answer 2

At a minimum you'd get hit with fines, plus what you would have owed anyway plus interest and penalties. You can be prosecuted and can go to jail, but not necessarily - would depend on the amount and other details of the tax evasion.

Answer 3

It depends.

If you made a mistake - and yes admit you made a number of mistakes, and get an

INSTALLMENT PAYMENT PLAN - and make the payments,
they may help you.

If you defrauded the government, and it's a huge amount of money, they still can offer you the INSTALLMENT plan.

This can stop any liens against you, and could stop the jail time.
Again, you must sign the installment to make timely payments, and you must make the timely payments.

www.irs.org
Installment plan

You may go to the nearest local irs office, and ask them for help setting up an installment plan for MISTAKES that you made. They may really appreciate your honesty on wanting to pay your taxes, PLUS PENALTIES PLUS INTEREST UNTIL THE TOTAL AMOUNT IS PAID - THEY KEEP ADDING UP UNTIL ALL IS PAID.

GOD bless us always.
MBA-Boston Univ.
CPA-retired

Answer 4

the place the heck do you purchase the style of extensive quantity of present enjoying cards? yet besides .... if the IRS gets wind that somebody resides way above their skill, the IRS can and could inspect. there is likewise the situation of the "loser" paying for the present enjoying cards. One would not in basic terms plunk down that form of money. The irony of this plan is that no count if that could be a husband and spouse blended that have the greater suitable $10m laying around to grant away, they could each and each legally provide (a minimum of in 2011, uncertain approximately 2012) $5m to the "finder" present tax unfastened ( i e not extra lower back into the valuables for computation of the valuables present tax). Then each and each giver can nevertheless provide as much as $13,000 in step with 300 and sixty 5 days in step with guy or woman with out it impacting assets taxes. desire that facilitates answer your hypothetical (or dramatic Easter egg hunt!!)