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Video instructions and help with filling out and completing Will Form 843 Assessed

Instructions and Help about Will Form 843 Assessed

Welcome to this installment of clarifying tax situations with attorney and CPA David W + Ames ok the subject of this video is what can happen if the government thinks that I committed tax crimes the short answer to this question is on top of the tax that you should have paid when you get caught cheating plus the penalties and interests that attach to that potentially a 75% fraud penalty so if they hit you for $1,000 of additional tax best case scenario is you wind up paint one thousand seven hundred fifty bucks you stand the potential risk of criminal prosecution that's a short answer the ramifications here go way beyond the simple penalties and interest that you ordinarily face in the standard civil audit ramifications are way beyond that for many of my clients the concept of having to spend time in the federal prison is almost unimaginable to them and the stress and anguish they feel when faced with the potential for criminal prosecution is indescribable what haunts most of them is the shame humiliation and the social authorization that they assume will be coming their way as they're convicted of a tax crime moreover a lot of my clients have professional licenses their attorneys their doctors their CPAs if they get criminal prosecution on their record that's it for their license they're no longer a doctor they're no longer a CPA they're no longer return and what a lot of my clients find really horrific is that they never realized that the government is going to publicize the fact that they're being criminally prosecuted that's part of how the system works they want as much publicity surrounding a prosecution as possible this is the one one of the reasons that kind Western stars and movie...

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