The last thing that you want to do with your money is to give it to the IRS. We know that, you know that, and the IRS knows it, too. While it is understandable that you might want to try to give your money to your friends and family before you pay the government. You might even be able to work out an agreement whereby you transfer assets to someone else’s name, and that person continues to provide for you. However, while understandable, it is illegal.
Gifting Your Assets Away Could Result in a Charge of Tax Fraud
Even a novice IRS agent is going to be suspicious if you suddenly begin draining your bank accounts, retitling your home, and making gifts of your most valuable possessions. If you no longer have the money to pay your taxes, and your back taxes are not satisfied, then the IRS may charge you with tax fraud. If convicted of tax fraud, you could face jail time.
Don’t Let This Happen to You. Talk to a Tulsa Tax Lawyer about Alternative Solutions
You don’t want to knowingly, or unknowingly, put yourself in a position where tax fraud charges are possible. You do not want to be accused of cheating the government. Instead, you want to find out about your legal options for satisfying your tax debt.
For more information, we encourage you to contact an experienced Tulsa tax attorney today at 800-721-7054 and to request and read our FREE book, The Ultimate Survival Guide for IRS Problems.