Now is clearly not the time to be playing coy with Washington. As we've noted for a while now, the Internal Revenue Service is stepping up its tax evasion enforcement game against Americans in the District of Columbia area and the rest of the country who they suspect of having undeclared caches of cash in foreign banks.
Many working Americans would agree that there is nothing better than cold, hard cash. For businesses owners who choose to pay employees in cash, however, there can be tax problems related to dealing in cash. Likewise, being paid in cash can also result in unmet tax obligations for employees that can land them in hot water with the IRS.
The minute the Internal Revenue Service begins to take an undue interest in a person's financial matters, it is time to consult with an attorney experienced in any and all the aspects of tax law. The potential for severe penalties in the event of a trial and conviction are such that anyone in the Washington, D.C., region should be ready to take assertive action early to protect their interests.
Government doesn't run on fumes. Taxes are the lifeblood of government operations and officials in Maryland and at the federal level will go to great lengths to collect all the funds they may argue they are due. Those who are being audited by the Internal Revenue Service or face investigation for alleged tax evasion should not sit back and let things unfold without the aid of legal counsel.