On Wednesday, March 28,2012 we posted that the "IRS Releases FY 2011 Data Book." This data book, in addition to providing various other interesting information about the IRS, also contains a report of the IRS' Criminal Prosecutions for the 2011 & 2010.
The Data Book reported that in 2011: these
- The IRS initiated 4,720 criminal investigations.
- There were 3,410 referrals for prosecution
- There were 2,350 convictions.
- Of those sentenced, 81.7% were incarcerated (a term that includes imprisonment, home confinement, electronic monitoring, or a combination thereof).
- the IRS initiated 4,706 criminal investigations
- there were 3,034 referrals for prosecution, and
- there were 2,184 convictions.
- Of those sentenced, 81.5% were incarcerated.
More than 80% of criminal tax fraud cases resulted in jail time in 2012, which shows judges are willing to hand out stiffer penalties than probation.
So as you sit down to figure your taxes for 2012 and somehow you are thinking of underreporting your income or not filing at all, ask your self:
Read more at: Tax Times blog