Tax Evasion in Newport, 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 frequent tactics of tax evaders in Newport, Arkansas is to attempt to make it appear to an outside observer that their tax liability is lower than it really is, such as by concealing income, fraudulently transferring property, and others.
You may also be familiar with the term "tax avoidance." It is necessary that you don't confuse this with "tax evasion." Tax avoidance is perfectly legal, and is probably something that every taxpayer does whenever they file, whether they know it or not. It involves employing legal methods to make one's tax liability as small as possible, taking advantages of deductions and other tax breaks.
Penalties for Tax Evasion in Newport, Arkansas
Under the laws of Arkansas, as well as federal law, tax evasion is a very severe criminal offense.
In Newport, the punishments for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to fines in the tens (or hundreds) of thousands of dollars, and imprisonment.
In most cases, particularly when the amount of taxes evaded is small, and it's a first offense, the punishment will normally be fairly mild. It will normally result in an order to pay the taxes the defendant owes, plus a small financial penalty. This is especially likely when it cannot be proven that the failure to pay taxes was purposeful.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Newport, Arkansas committed purposeful fraud, in order to evade their legal duty to pay taxes, a tax court is probably going to impose a more severe penalty, which may include jail time, and large financial penalties.
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A Newport, Arkansas Tax Evasion Lawyer Can Help
A Newport, Arkansas attorney who specializes in tax law can help ensure that you are in compliance with all applicable tax laws, making an accusation of tax evasion less likely.
If you find yourself really accused of tax evasion, and are innocent, you should hire a Newport, Arkansas attorney with experience practicing tax law, as soon as possible. Your tax attorney can help you defend yourself against the charges, ensuring that you have a good chance at being acquitted.