Breaking: The IRS is impartial. They don’t care if you are famous or rich. If you are trying to avoid paying taxes, you will be caught. And when they do, the penalties will be fierce. Recently, Dancing with the Stars winner and famous race car driver Helio Castroneves has been charged with conspiracy and six counts of tax evasion for failing to report income to the IRS.

The Low Down: Helio Castroneves reported no revenue from 1999 to 2004. The amount was $ 5.5 million. If convicted, you could face a jail term of 3 years or more. And in addition to that punishment, you are expected to pay all taxes on the money plus interest and penalties and associated court fees. So what exactly did you do wrong to risk receiving this type of punishment from the IRS?

The crime: Failure to report your income is a crime. There are many freelancers who think they can hide their money in foreign accounts like Helio Castroneves did. You can transfer your income to any bank you want. But you’d better report that money to the IRS if you want to stay out of jail and avoid outrageous fines.

Accountants, beware: Helio Castroneves isn’t the only one in trouble with the IRS. His business manager and sister Katiucia Castroneves also faces criminal charges for tax evasion. So my advice to accountants and business managers is this: don’t act illegally thinking that you can avoid guilt. You and your client will face the charges together.

Too late? So what should you do if you haven’t filed your taxes or income in the last few years? You should know that the IRS is really cracking down on tax evaders this year. They are even making examples of famous people like Wesley Snipes and Helio Castroneves. So file your back taxes! If you need help filing your taxes or have any other questions about your IRS problem, now is a good time to seek professional help in getting your finances in order.

Now you have the smoking gun … use it!