Payroll Tax and Penalties

Business man hammering a piggy bank

Introduction to Payroll Tax. Payroll tax includes the income tax and Federal Insurance Contributions Act (“FICA”) taxes that are withheld from every employee’s paycheck.  It also includes the employer portion of FICA.  The business pays these taxes to the IRS on a weekly, monthly, quarterly or annual basis.  The frequency depends on the size of […]

Penalties for Tax Evasion

September, 2020 case of a Shreveport business owner shows the severity of penalties for tax evasion. As a result of an IRS criminal investigation, a Shreveport, Louisiana business owner was sentenced on September 29, 2020.  Penalties for tax evasion included 3 years and 4 months in prison and nearly $2 million in restitution payments to […]

Tax Evasion: Recent Case

Tax evasion is squarely in the sites of IRS auditors and the IRS criminal investigation division, especially as it relates to cash-based businesses.  Tax evasion is also known as tax fraud. On September 10, 2020 the United States Attorney’s Office announced the sentencing of Mr. and Mrs. Brocato in a court trial that is a […]