Opinion

A cautionary tale for business owners: businessman convicted of Tax Evasion and filing false Tax Returns

Concealing income is never a sustainable solution and can lead to life-altering consequences. Responsible tax compliance protects your business’s reputation and future. If you have concerns about your tax situation, consult a tax professional promptly. Addressing issues proactively is the key to avoiding costly legal battles and preserving your business.

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IRS notice of deficiency

The Tax Court concluded that the IRS did not demonstrate that a valid Notice of Deficiency was mailed to Cano’s last known address. As a result, the petition was untimely, and the case was dismissed for lack of jurisdiction.

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