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Caught Transferring Money Offshore? Call a Ventura Tax Fraud Lawyer

While it may seem harmless to you, the penalties for transferring money to an offshore account are severe and the IRS takes this form of tax fraud very seriously. While still one of the most popular methods of “hiding” money to avoid paying taxes, the IRS has become aggressive in enforcing the laws regarding offshore accounts. If you are being investigated for tax fraud in California, call a Ventura tax fraud lawyer immediately before the investigation goes any further.

Sadly, there are many tax schemes in which individuals are willing to assist you in transferring your money offshore. Using illegal tax shelters or offshore accounts in “tax haven” countries often involves:

• Foreign trusts, corporations or companies
• Private annuities
• Private banking
• Investment companies
• Offshore bank accounts and credit cards

If you are caught using offshore tax shelters or offshore accounts, our team of Ventura tax fraud attorneys can help. Tax fraud is a felony with financial penalties, as well as imprisonment, and you can expect to face the following if you are convicted:

• Requirement to pay the taxes owed
• Penalty of up to 75% of the underpayment of taxes
• Up to $250,000 in fines
• Up to five years in prison

The problem with using offshore accounts is so prevalent that the IRS again instituted the Offshore Voluntary Disclosure Program in 2012 to encourage individuals to disclose their funds and to work with the IRS to pay the taxes owed. While the IRS has become more serious in tracking down money hidden in tax shelters and offshore accounts, they are also working with individuals to come clean.

Tax fraud is a serious offense and anyone can be the IRS’ next target. Call the Law Offices of Bamieh & Erickson, PLC, if you or your company is being investigated or has been charged with tax fraud in California. We are criminal defense lawyers and we will work with you to help keep your record clean. Call the law offices at (805) 643-5555 today. Our experienced tax fraud attorneys in Ventura will gather the facts and build a case in your favor. Don’t delay, call us today.

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