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Tax litigation underway over alleged $2 billion evasion scheme

On Behalf of | Oct 23, 2020 | IRS Issues

Taxes are complex matters to handle, and in some cases, Atlanta residents may feel that the manner of taxation is unfair. While it may seem tempting to leave off certain information from IRS documents when filing a tax return, it is important to remember that if the IRS suspects wrongdoing, serious accusations and tax litigation could result. In fact, a businessman in another state is currently facing this type of ordeal.

According to reports, technology mogul Robert Brockman was recently indicted on various charges relating to tax fraud. Apparently, the case could be the most significant case of alleged tax evasion in the United States as he stands accused of hiding almost $2 billion from the IRS. Purportedly, Brockman used various means in attempts to conceal assets, including backdating documents, using offshore accounts to hide funds and destroying records.

Of course, these accusations are just that — accusations. Even if the IRS claims to have evidence against a person that points to tax evasion or similar fraudulent activities, it does not necessarily mean that the person is guilty. While allegations of hiding assets, not providing full information and trying to cover up mistakes certainly appears in a negative light, it may not always mean that a person committed a crime.

Though Atlanta residents may not be facing accusations of a $2 billion tax evasion scheme, they could still end up in a similar ordeal with the IRS. Mistakes, omitted information and other issues with a tax return could raise red flags with the government agency that results in an investigation. If charges do come about, accused individuals will certainly want to gain information on tax litigation and how they could defend against allegations.