Tax evasion: the current outlook in new york

On Behalf of | Mar 15, 2018 | Federal Crimes, Firm News

No matter the reason, discovering that a tax evasion charge may be right around the corner can set the stage for a world of stress. New Yorkers going through this difficult time might express confusion over the steps to come — including the defense of a federal crime and the legal process in general. Even when the situation appears bleak, there are details to each case that are deserving of special time and attention. 

Just how serious are charges for this type of crime? Forbes highlights the case of one New York restaurant owner, in which the man received 150 months in prison after pleading guilty to wire fraud and tax evasion. Christopher Swartz admitted to having deceived lenders and investors, stealing over $19 million in total. Swartz also pleaded guilty to obstructing the IRS and evading roughly $4 million in taxes. The New Yorker used restaurants and other companies to conceal these financial crimes, and now owes millions in restitution. 

Not all cases are as straightforward as the aforementioned one, especially when the methods to evade taxes are unclear. In 2016, The New York Post commented on the nationwide issue of tax evasion, nodding toward Seattle’s decision to enforce stricter policies on these crimes. According to The Post, some advanced cash registers have allowed employees to hide sales, therefore avoiding taxes altogether. Some argue that New York should follow suit, as the amounts of money the state could be losing to these technologies is uncertain, but likely steep. The Post stresses the importance of raising awareness about this strategy, and warns the public that the state of New York could suffer significant financial damages if this trend continues.