Tax Implications of an Embezzlement Conviction

Embezzlement can have multiple different aspects. First, there is the harm caused to the victim – employer, owner, company, corporation, state agency – caused by the embezzlement Raleigh.

Second, there is the loss of trust. Because embezzlement occurs where one person has been entrusted with assets – money, goods, accounts, credit cards – the theft of  those goods will cause sometimes irreparable harm to the relationship, and this can be most damaging where there was a friendship.

Third, embezzlement results in a gain to the person who has committed the crime.

There are civil and criminal aspects to embezzlement. The person who has Raleigh embezzled may be required to pay back the amount owed. This can be done if the person who has embezzled Raleigh has been sued in a civil court.

Second, there is the criminal aspect to a embezzlement. As I’ve discussed elsewhere, embezzlement is a felony – regardless of the amount taken – in North Carolina.

Third, there are the tax implications. If a large amount has been taken, and not repaid, and not reported on taxes, there may be tax violations that also stem from the the alleged illegal conduct.

If you want to talk to a lawyer about how you can avoid criminal liability from a Raleigh embezzlement charge, feel free to contact me.

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Damon Chetson

Damon Chetson is a Board Certified Specialist in State and Federal Criminal Law. He represents people charged with serious and minor offenses in Raleigh, Wake County, and the Eastern District of North Carolina. Call (919) 352-9411.