Updated July 23, 2015
Tax Evasion in Chicago Illinois
Discipline versus tax evasion and tax evasion delusions
One of the basic laws of the world of auditing is that companies that are disciplined make more money on a consistent basis, than companies that cheat.
Any experienced auditor will tell you that cheaters never win in the long run. You are under one of the greatest delusions of all, if you think that evading income tax is in any way, an acceptable way to operate a business. You might get away with it one year, you might even get away with it for a few. But sooner or later your going to get caught. The money you will spend on a defense of something that cannot be won, the time that you will spend losing, the anguish involved, as well as the additional tax, penalty, and interest is simply not worth it.
Let’s also remember that if you are convicted on a charge of tax evasion, you can personally face jail time.
As of the date that this was written, The Internal Revenue Service has stepped up its enforcement efforts through auditing. I have been told by IRS Auditors that the service plans on hiring an additional 1000 agents per year for the foreseeable future. Our country is at war, operating at unbelievable deficits. The national numbers that I have seen place the number of Federal Audits back at the levels that we had during The Reagan Administration.
A disciplined business owner will always have better profits and less problems than an un-disciplined one. Don’t fall into this trap. Tax evasion is not a joke.
If you are having problems with Tax Evasion in Chicago Illinois or your accounting in general, we would love to help. I enjoy hearing from my readers, and can be contacted at….
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Chris Amundson is the President of Accounting Solutions Ltd., a full service public accounting firm of Certified Public Accountants and Enrolled Agents handling the bookkeeping, accounting, tax preparation, and audit representation needs of Businesses, Estates, Trusts, and Upper Income Individuals.
On the other hand, if you plan on cheating on your taxes, please call someone else.