Chris, Im a semi retired Country Lawyer AND DO NOT PRACTICE TAX LAW (highly specialized for those CPA's who became attorneys) WHATSOEVER and my legal colleauges like Mike or Dean likely have a lot more knowledge and experience then myself in this area. Also as I always post BEWARE of lay opinions especially in highly specialized areas such as tax law. Most lawyers other then tax attorneys know much about this area let alone those with no formal tax law training.
That being said and based on my limited experience with tax matters, heres my thinking.
1) Questions - if he goes to the IRS and fesses up, how do they usually settle.
IT DEPENDS on the investigator and what the dude has to offer as far as records and his story and how much liability were talking about. If he may owe hundredes of thousands of dollars in back taxes thats one thing but if its only a few thousand they arent going to expend tons of resources. No one can answer or predict that accurately !!!!!!! YES they often "settle" but theres are so many factors such as amount owed and intent to defraud and the investigator I cant put any figure or precentage on it.
2) What are the chances he gets some jail time?
Slim to none
3) Will a lawyer help, or will the IRS do what they are going to do?
A good CPA would be my first stop unless and until such time the IRS starts talking serious consequences and fines at which time Id consult a tax attorney (not A GENERAL PRACTITIONER)
Those TV adds you see are nore for high dollar tax liability issues NOT mom n pop small change.
John T Country Lawyer NOT a Tax lawyer and this opinion isnt worth much more then a lay opinion so theres no charge lol
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Gatherin of the Orange - by Rick Nikolich. In July of 1998 I was talking to fellow Allis Chalmers collector Mike Schilling about the annual "Gathering of The Orange" AC show coming up in August of 1999. He got this wild idea that we should get a convoy of AC tractors and drive them from Charlotte, Michigan 105 miles to LaGrange, Indiana.
... [Read Article]
Latest Ad:
Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
