What are the consequences for tax evasion?

In Washington, tax evasion is considered a white-collar crime and is punishable by both state and federal authorities. When someone evades taxes, they are intentionally trying to avoid paying taxes that are due. The consequences for tax evasion can vary depending on the circumstance and the severity of the offense. Generally, those found guilty of tax evasion can face fines and/or jail time. The amount of the fine and length of incarceration are determined by a variety of factors, including the amount of money that was owed but not paid. In some cases, the person convicted of tax evasion may have to pay back any unpaid taxes, plus interest and penalty fees. The Washington State Department of Revenue has authority to prosecute violators of state tax laws. Tax evasion is also a federal crime, and the Internal Revenue Service (IRS) takes tax evasion seriously. Consequences for federal tax evasion can include fines up to $250,000 for individuals or $500,000 for corporations, and/or up to five years in federal prison for individuals or up to a $10 million fine and/or 20 years in prison for corporations. Overall, it is important to remember that there are serious consequences for tax evasion in Washington. As a result, it is wise to ensure that all taxes are paid in full and on time.

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What are the consequences for tax evasion?

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