Understanding Criminal Tax Activity and The Repercussions with Robert Nordlander
Jun 13, 2023Have you ever wondered what the repercussions were for making a mistake on your taxes? Will you go to prison? Pay a huge fine? The thoughts that go through our minds are endless. Robert Nordlander is here to explain exactly what happens if you either make a mistake on a tax return or willfully evade paying your taxes.
Robert Nordlander is a speaker, podcast host, CPA, and Amazon bestselling author. He spent over 20 years as a special agent with IRS-Criminal Investigation chasing tax evaders and money launderers around the globe. Currently, he is the principal member of Nordlander CPA, PLLC, a boutique forensic accounting and tax resolution firm.
This episode poses a very unique perspective on taxes compared to what we normally discuss and I think is great information for business owners to hear. There is also a small true crime element to this episode as we discuss certain examples from Roberts's past.
The key takeaways from this episode are:
1. Understanding the repercussions of tax mistakes: Robert Nordlander provides insights into the consequences of making mistakes on tax returns or willfully evading taxes. He clarifies common misconceptions and provides a clear understanding of the legal implications.
2. Examples from Robert's past and true crime elements: The episode offers a unique perspective on taxes, incorporating examples from Robert's experience as a former special agent with IRS-Criminal Investigation. These stories add an intriguing aspect to the discussion.
3. Advice for small business owners: Robert shares valuable advice for small business owners to stay out of trouble with the IRS. This includes understanding what constitutes a tax crime, being aware of potential risks associated with tax preparers, and knowing how to report suspicions of tax crimes or fraud.
What you'll hear in this episode:
[3:06] Introduction to Robert and his background
[5:36] Clarifying some of the misinformation around white-collar crimes.
[7:06] What constitutes a tax crime?
[10:15] What actually happens legally if you make a mistake in your taxes?
[13:20] What are the repercussions if your tax preparer does something sketchy on your tax return that you are unaware of?
[18:22] What are some ways that small business owners either intentionally, or unintentionally, evade taxes?
[23:12] As an employer, how often do you need to pay and remit payroll taxes for it not to be considered criminal? What implications might this have for your employees?
[28:19] What is the proper path to report suspicion of a tax crime or fraud?
[30:13] What advice to Robert have for small business owners trying to stay out of trouble with the IRS?
Related episodes:
IRS Reporting Threshold for the 1099K - Roundtable Recap
How to Pay Yourself Based on Your Business Structure
What is a W-9 and Who Needs One?
Resources:
Connect with Robert:
https://www.linkedin.com/in/robert-nordlander/
Connect with Shannon:
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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
