As the U.S. government starts implementing more techniques to detect tax-related fraud, more people and businesses are becoming targets of audits and investigations. Joseph Potashnik and Associates PC provides legal help to clients conducting internal compliance audits or facing criminal tax investigations in New York and New Jersey.
New York, NY -- (ReleaseWire) -- 08/22/2017 -- From its office on Madison Avenue, NYC law group Joseph Potashnik and Associates helps NY and NJ individuals and organizations in tax-related criminal investigations.
According to the recent estimates, the federal government wastes over $400 bn annually on tax evasion. Such a shocking statistic can't but push the government to take more active action to combat fraud, and one of the most effective methods it uses is data analytics. The agents sift through vasts amounts of data to detect deviant patterns.
One example of this analytical technique is the State of Maryland using records of individuals' tax returns. The State's Bureau of Revenue Estimates tags each anomaly it spots with a risk score and has the returns with the highest scores audited by its agents. This allowed the Bureau boost its efficiency by almost 12 times.
Similarly, the NYC Dept of Finance analyzes businesses tax returns over time to find abnormal patterns. This allowed the Department to improve the efficiency of its tax fraud combating efforts by 40%.
"It goes without saying that not every person or organization targeted by the officials as a result of data analytics indeed perpetrated a crime. Sometimes what seems deviant is either an honest mistake or can be easily explained with some facts. In order to make sure that one's rights are observed and the officials are not overzealous when investigating into fraud allegations, it is necessary to retain a tax attorney to represent the person or the firm during the investigation", said J. Potashnik.
About Joseph Potashnik and Associates PC
Joseph Potashnik and Associates, PC is a New York City multi-practice law firm whose attorneys providing legal representation to clients facing criminal investigations and prosecution in state and federal courts. The firm's criminal defense lawyers specialize in cases of immigration fraud, Medicaid and Medicare fraud, financial crimes, cyber crimes, tax fraud and evasion, and a lot more.
260 Madison Avenue, 21 Floor New York, NY 10016
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