Blog Layout

Tax Fraud and Tax Evasion - South Carolina White Collar Crime

Jul 04, 2022

Can negligent errors cause tax fraud charges? Yes. Legitimate businesses and business people can face serious state and federal charges relating to their income, taxes, and expenses. In 2020 over a dozen people faced tax evasion charges relating to their employers tax filing practices. And, in 2022 a major operation charged a dozen people in South Carolina also with tax related fraud. Now, while these two stories highlight some major criminal charges, small businesses and individual South Carolina residents can also come under scrutiny. Even if you have an accountant, or if you do taxes yourself, the mistakes might not be apparent. A mistake can be taken the wrong way and you could face tax evasion charges.



What is Tax Fraud and Tax Evasion?

There are ways to fight these charges. Even honest mistakes are illegal and can be penalized by state and federal tax authorities. If your situation is due to someone else’s mistakes or through unknowing actions, you have options. Tax evasion can be: neglecting to file a tax return, misrepresenting deductions, or making false statements regarding taxes. Tax evasion can also be evading the assessment of taxes or evading the payment of taxes.

 

Avoiding the assessment of taxes might look like underreporting income or overreporting deductions. Avoiding payment can be construed as having the funds but unwilling to hand them over.



What are the penalties?

Tax evasion is a white collar crime. White collar crimes are categorized by their usually non-violent nature. They are also usually financial in nature. Partly for these reasons and unfortunately for those who are facing them, the consequences of a conviction include heavy fines.

 

South Carolina’s felony tax evasion offenses come with up to 3 years of jail time and $10,000 in fines. Federal tax evasion charges are more punitively prosecuted. Fines of $100,000 can be levied against individuals. Prison time is always a possibility.

 

Tax authorities could do a variety of things if you’re charged with these crimes. They could forcibly seize assets, freeze bank accounts, and shut down your businesses. Avoiding these things while you’re fighting these charges is one of the benefits of retaining a strong criminal defense legal team.


Who We Are - South Carolina White Collar Lawyers

Your case is unique and needs to be reviewed by a knowledgeable criminal defense attorney before they can tell you what your situation is. Depending on your circumstances there’s different ways to push for a drop in charges, alternative solutions, or a plea bargain. If necessary, going to trial is also an option.

 

The McCoy Law Group is headed by Peter McCoy. Peter is an native South Carolinian. He’s got over 20 years of experience at all levels of the state’s legal system. He’s a former state legislature and US Attorney. If you’ve got a criminal defense issue he can guide you towards the best solution. Contact us today.

Federal Corporate Fraud: What You Need to Know

08 Sep, 2023
The world of business can be exhilarating, offering opportunities for growth, innovation, and financial success. However, it's important to acknowledge that the corporate realm isn't immune to illegal activities. Among these is the intricate web of corporate fraud, which can entangle unsuspecting individuals in serious legal troubles. At The McCoy Law Group, we know how easily individuals can find themselves embroiled in corporate crime, and the complexities surrounding corporate fraud cases. We’re here to offer pertinent information and reliable legal guidance should you need it. Here is what you need to know should you find yourself accused of this corporate crime.

Uncovering Fraud: A Guide to Federal Qui Tam Cases

14 Aug, 2023
Have you ever come across fraudulent activities that are harming the government? If so, you might have the power to bring these wrongdoings to light and make a significant impact. This is where "qui tam" comes into play – a powerful legal tool designed to fight fraud against the government. The prospect of filing a lawsuit against an employer, a client, or someone of a higher position than you may seem intimidating and worrying, but it is your moral obligation to report any wrongdoing. With qui tam and the McCoy Law Group at your side, rest assured that your case will be handled effectively and with the utmost protection of your rights. We are here to guide and support you in your journey to reveal fraud and protect the public interest.

Understanding the Federal Crime of Insurance Fraud

11 Jul, 2023
Insurance fraud has existed since the inception of insurance itself. Consequently, it is one of the better-known white-collar crimes within the American legal system. Although insurance fraud does not carry the most severe penalties, being convicted of this crime can still significantly impact your daily life. It can lead to fines, imprisonment, and other sanctions. At McCoy Law Group, we understand the gravity of insurance fraud allegations and the impact they can have on individuals and businesses. If you are facing federal charges related to insurance fraud, take immediate action and seek the guidance of our experienced federal criminal defense attorney.

Defending Against Federal Mortgage Fraud Charges in South Carolina

13 Jun, 2023
Facing federal mortgage fraud charges can be overwhelming and have serious consequences. Because the penalties for conviction can be severe, it is crucial to have capable and experienced legal representation on your side. At McCoy Law Group, we understand the complexities of these cases and the impact they can have on your life. If you find yourself charged with federal mortgage fraud, it is crucial to act promptly to protect your rights.

South Carolina Drug Crimes: Classifications and Possible Resolutions

23 May, 2023
Drug crimes in South Carolina are taken very seriously. Even if you have no prior criminal record or if the drugs don't belong to you, you could still face severe punishment when convicted of a drug crime. If you or someone you know is facing drug crime charges, it's crucial to understand the legal implications and your options for defense. At McCoy Law Group, our experienced drug crime lawyer can provide you with the guidance and support you need to build a successful defense and the best possible outcome for your specific situation.

Navigating Embezzlement Charges in South Carolina

08 May, 2023
Embezzlement is a serious crime that can have significant consequences for those who are accused. If you or someone you know is facing embezzlement charges, it's important to understand the law, your rights, and the options available to mount a strong defense. At The McCoy Law Group, we are here to help you navigate this challenging situation and fight for the best possible outcome.

Felony DUI in South Carolina: What You Need to Know

27 Apr, 2023
Driving under the influence (DUI) is a serious offense in South Carolina that can have severe consequences. Not only can it lead to imprisonment and fines, but it can also result in a permanent criminal record that can affect your employment prospects and reputation. DUI laws aim to keep our roads safe by penalizing drivers who operate a vehicle while under the influence of alcohol or drugs. While DUI is a misdemeanor in South Carolina, felony DUI is an even more severe offense. If you or a loved one has been charged with felony DUI in South Carolina, it is crucial to contact the McCoy Law Group as soon as possible. Our experienced legal team is here to help you navigate the complex legal process and achieve the best possible outcome for your case.

When Retaliation Strikes: Protecting Whistleblowers’ Rights

03 Apr, 2023
As a whistleblower, you have the right to report tax fraud, and it's important to do so for the good of society. But what happens if you're retaliated against for doing the right thing? Our firm understands how scary it can be to come forward and report fraud. That's why we want you to know that you have rights and protections under South Carolina law. We also have reliable whistleblower retaliation lawyers ready to fight for you if you experience retaliation.

Tax Whistleblower Cases: Why Blow the Whistle?

15 Mar, 2023
Tax fraud is a serious crime that can cause significant damage to the economy, and those who commit it can face hefty fines and even jail time. Fortunately, the law provides a way for individuals who have information about tax fraud to report it to the authorities and receive a reward for doing so. These individuals are called tax whistleblowers, and they play a crucial role in helping to identify and prosecute tax fraud. At the McCoy Law Group, we understand the importance of tax whistleblowers in uncovering tax fraud, and we are committed to helping individuals who have information about tax fraud to come forward and report it. Peter McCoy, the founder of our firm, is a seasoned attorney who has spent his career fighting for justice and upholding the law. As a former United States Attorney and former member of the South Carolina State House of Representatives, he has the experience and expertise needed to help whistleblowers navigate the complex process of reporting tax fraud.

The Importance of Product Liability Cases

01 Mar, 2023
Product liability is an area of law that holds manufacturers, distributors, and sellers responsible for placing dangerous or defective products on the market. When these products cause someone to get hurt or injured, product liability lawsuits are legal actions that the injured parties can take against those responsible. Peter McCoy and the McCoy Law Group represents clients who have been injured as a result of defective products, and we fight to ensure that our clients receive the compensation they deserve. If you or someone you know has been injured due to a defective product, it is important to contact a product liability attorney as soon as possible. At the McCoy Law Group, we offer free consultations to potential clients, and we can help you determine whether you have a valid claim. We encourage you to contact us today to discuss your case and learn more about your legal rights. 
More Posts
Share by: