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Showing posts from October, 2023

What is the Difference Between Tax Avoidance and Tax Evasion?

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  Taxes play a crucial role in our society, funding necessary public services and infrastructure. However, there’s often a cloud of confusion surrounding the terms ‘tax evasion’ and ‘tax avoidance,’ with many individuals unclear on the significant legal distinctions between them. While both concepts revolve around reducing tax liabilities, they diverge sharply in their methods, legality, and societal implications. By understanding the legal avenues available to minimize tax liability and the criminal repercussions associated with fraudulent practices to evade taxes, you are better positioned to navigate the tax landscape in compliance with the law. What is Tax Avoidance?   Tax avoidance refers to the legal practices individuals and entities may employ to lower their tax liability, adhering to the provisions outlined in the tax code. These provisions are crafted to encourage certain behaviors or to provide relief, thus promoting compliance and fairness within the taxation system.

What to do if you receive a letter from NYC Bureau of Fraud Investigation?

Each year, thousands of NYC residents are investigated by NYC HRA for public benefits fraud. An investigation dealing with Medicaid recipient fraud or Food Stamp fraud begins when a target letter is mailed to you via first-class mail or hand-delivered. The letter may state that it is from the Human Resources Administration, Department of Social Services, and the letter may say it is from the Investigation Revenue and Enforcement Administration, Bureau of Fraud Investigation. Regardless of where or who it is from, it is essential not to ignore this letter. The Human Resource Administration (HRA) is an organization that provides assistance and benefits to over 3 million New Yorkers. This assistance or benefit appears in the form of  food stamps , Medicaid, home care, child support enforcement, and many other programs. The Bureau of Fraud Investigation aims to investigate fraud and the abuse of the HRA programs. The Investigation Revenue and Enforcement Administration also investigates