If you’re going to hide money from the IRS, expect to pay the consequences if you are caught, explained a New York Criminal Lawyer. While there may be mitigating circumstances and an attorney can get the charges or jail time reduced or commuted to community service time, there will generally be a price to pay for flaunting the law.
The particular former athlete will be spending a year at home under house arrest for hiding $2.6 million in a Swiss bank account. He wanted to save $60,000 in taxes. What he got instead was a whole pile of trouble with the law for criminal tax evasion. Instead of saving $60,000, he was fined $1.3 million for not legally reporting the funds on his tax return said the New York Criminal Lawyer.
At trial the judge took aim at the athlete and said that his new country of residence had treated him well, but in return, he had chosen to deliberately flaunt the law and hide money from the same government that had accepted him as a US citizen reported the New York Criminal Lawyer.
New York Criminal Lawyer Blog

