According to a Department of Justice press release, an Arkansas woman was recently charged in connected to alleged tax evasion and for failing to file tax returns, as required by federal law. This story highlights the potential consequences that taxpayers may face if they fail to comply with the nation’s tax laws. If you have failed to file a tax return for one or more year, or have taken a position on a tax return that could not be supported upon an IRS or state audit, it is in your best interest to contact an experienced tax defense attorney to determine the best strategy to come into compliance without facing criminal tax prosecution.
Defendant Alleged to Have Completed False W-4s and Allegedly Lied to Investigators
Court records reveal that Kristine J. Collins of Centerton, Arkansas, has been charged with evading federal income taxes and failing to file income tax returns for the years 2017 through 2022. Despite earning a substantial income as a senior manager in asset protection, Collins allegedly did not file required annual tax returns. She is accused of submitting false employee withholding certificates to her employer, claiming she was exempt from federal income tax withholding. Additionally, Collins allegedly made false statements to IRS special agents during a criminal tax investigation and continued to file false Forms W-4 in 2023. The indictment states that during the relevant period, Collins earned over $750,000 in gross income from her employment.
Collins faces severe consequences if convicted, with a maximum of five years in prison for each count of tax evasion and up to one year for each count of failure to file a tax return. If convicted, she may also face a period of supervised release, which would commence upon the completion of any prison sentence that is imposed. Finally, Collins may be ordered to pay restitution to the government, representing the loss of tax revenue as a result of her alleged actions.
Coming Into Compliance After You’ve Fallen Behind
As you can tell from the defendant’s story above, there can be significant, and life changing penalties associated with failing to comply with federal (or state) tax laws. If you have failed to truthfully complete tax returns on an annual basis, you should contact a seasoned tax lawyer to help guide you through the steps of getting right with the government. The sooner that you begin working toward coming into compliance, the sooner the matter can be resolved and not serve as a source of stress, anxiety, or risk in the future.
We Are Here for You
Regardless of your business or estate needs, the professionals at the Tax Law Offices of David W. Klasing are here for you. We are open for business and our team will help ensure that your business is too. Contact the Law Offices of David W. Klasing today to discuss your business with one of our professionals.
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