Tax Evasion in Lowell, Arkansas
"Tax Evasion" refers to the crime of willfully failing to pay one's taxes, as required by Arkansas law.
One of the most common prevalent tactics of tax evaders in Lowell, Arkansas 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 using 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 obligations to pay taxes.
Penalties for Tax Evasion in Lowell, Arkansas
Under federal and state law, including the laws of Arkansas, tax evasion is a very severe crime.
The penalties for tax evasion in Lowell can range anywhere from small fines to huge fines, 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 especially true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was purposeful, as opposed to an honest mistake.
But if the government is able to definitively establish that a defendant in Lowell, Arkansas intentionally engaged in fraud to get out of paying taxes, a tax court is highly unlikely to show any leniency, and may well sentence the defendant to prison time.
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A Lowell, Arkansas Tax Evasion Lawyer Can Help
A tax attorney in Lowell, Arkansas can ensure that you meet your tax liabilities, which will make an audit, or charge of tax evasion, less likely. Sometimes, it's difficult to determine precisely what one's tax liability is, and a tax attorney can help.
In the unfortunate event that you're truly charged with tax evasion, it's important that you hire a knowledgeable tax attorney in Lowell, Arkansas. If you are actually innocent, your tax attorney can help make sure that you have the best chance you can of being found not guilty.