Twista - Tax Fraud - Financial Advisor Reacts

Tax compliance requires three essential steps: hiring a professional to prepare tax returns, filing the returns, and paying the taxes owed. Failure to complete all three steps, especially willfully failing to pay taxes despite having the financial ability to do so, can result in criminal charges including prison time and significant penalties. The IRS can prove willful tax evasion through evidence such as ignoring professional warnings, receiving IRS notices, and making luxury purchases while allegedly unable to pay taxes.