Not paying your taxes can get you into serious legal trouble and no one is immune from tax evasion charges, not even actors or celebrities.
Back in December, actor Stephen Baldwin was arrested and charged with felony tax evasion. Prosecutors charged the actor with felony tax evasion because they said he had unpaid tax debt stemming back to 2008.
Prosecutors reported that Baldwin reached a plea deal to pay back over $350,000 in back taxes and he will not face any jail time as long as the tax debt is paid back according to the plea deal. Baldwin and his attorney negotiated a plea deal where he will plead guilty to felony tax evasion. If he pays back his tax debt within one year, his felony conviction will be removed from his record.
Prosecutors said that if Baldwin does not pay back his tax debt in the time agreed to, he will be put on probation and have five years to complete the terms of the agreement.
This case is an example of what criminal charges people may face if they owe back taxes or do not file their tax returns. Tax crimes are taken very seriously by Texas and the IRS. Being charged with felony tax evasion is a very serious offense and depending on how much debt is owed and if a plea deal is reached or not, individuals may end up going to prison along with paying back their debt plus penalty fees.
This case also shows why it is important to work with a tax law attorney as soon as possible for people arrested for tax evasion or other tax crimes. Tax law attorneys will understand the tax laws and can help negotiate a plea deal or other agreement that will avoid jail time and other consequences of having a felony tax crime conviction on your permanent record.
Source: My Fox Lubbock, "Stephen Baldwin Reaches Plea Deal Over Tax Debt," March 11, 2013