Tax Evasion in Oxford, Alabama
"Tax Evasion" refers to the crime of purposely failing to pay one's taxes, as required by Alabama law.
One of the most common prevalent tactics of tax evaders in Oxford, Alabama is to attempt to make it appear to an outside observer that their tax liability is lower than it truly is, such as by concealing income, fraudulently transferring property, and others.
It's important not to confuse "tax avoidance" and "tax evasion." They are two different things, but some people mistakenly use them interchangeably. Tax avoidance involves utilizing legal methods, such as tax deductions and exemptions, in a strategic manner, for the purpose of reducing one's tax liability. Tax avoidance is perfectly legal. Tax evasion involves fraud, and a deliberate attempt to avoid meeting one's legal commitments to pay taxes.
Penalties for Tax Evasion in Oxford, Alabama
Under the laws of Alabama, as well as federal law, tax evasion is a very egregious criminal offense.
The penalties for tax evasion in Oxford can range anywhere from small penalties to huge penalties, along with prison sentences of several years.
Most often, tax evasion - if it's a first offense and the tax liability is small - will not be cause for huge fines or imprisonment. This is particularly true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was intentional, as opposed to an honest mistake.
However, if it can be clearly proven that a person or corporation in Oxford, Alabama purposely attempted to harbor income or assets for the purpose of getting out of taxes, a court will probably throw the book at them, so to speak. This can mean jail sentences measured in years, and fines in the six or seven figures.
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A Oxford, Alabama Tax Evasion Lawyer Can Help
Tax lawyers in Oxford, Alabama can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.
Of course, if you've truly been accused of tax evasion, you should hire a Oxford, Alabama tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.