Helio Castroneves is not the only 1 who’s in hot water with the IRS.
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Cracking Down : The IRS is unbiased. And when they do, the penalties will be pitiless. Lately, Dancing with the Stars Winner and famous Race Car Driver Helio Castroneves has been charged with conspiracy and 6 counts of Tax Evasion for failing to report revenue to the IRS.
The Low Down : Helio Castroneves did not report revenue from 1999 to 2004. If found guilty, he could be facing jail time of 3 years or more. And on top of that punishment, he will be predicted to pay all the taxes on the money plus interest and penalties and associated court costs. So what exactly did he do wrong to risk this sort of punishment from the IRS?
The Crime : Not reporting your income is a crime. There are a lot of independent employees that assume they can hide their money in offshore accounts like Helio Castroneves did. But you better report that money to the IRS if you’d like to stay out of jail and avoid extravagant fines.
Accountants, Beware : His business boss and sister Katiucia Castroneves also faces criminal charges for Tax Evasion. So my advice to Accountants and business chiefs is this : don’t act unlawfully thinking you can avoid the blame.
Too Late? So what do you have to do if you have failed to file your taxes or report revenue for the past couple of years? You need to know the IRS is really cracking down on people who are dodging taxes this year. They are even making examples out of famous folks like Wesley Snipes and Helio Castroneves. So file your back taxes! If you want help with filing your taxes or have any other questions about your issue with the IRS, now is a good time to seek pro help with getting your finances back in order.