Tax Evasion in North Little Rock, Arkansas
"Tax Evasion" refers to the crime of purposely failing to pay one's taxes, as required by Arkansas law.
One of the most common common tactics of tax evaders in North Little Rock, Arkansas is to attempt to make it appear to an outside observer that their tax liability is lower than it actually is, such as by concealing income, fraudulently transferring property, and others.
You may also be acquainted with the term "tax avoidance." It is crucial 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 North Little Rock, Arkansas
Under the laws of Arkansas, as well as federal law, tax evasion is a very significant criminal offense.
In North Little Rock, the penalties for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to penalties in the tens (or hundreds) of thousands of dollars, and imprisonment.
In most cases, especially when the amount of taxes evaded is small, and it's a first offense, the punishment will usually be fairly mild. It will usually 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 willful.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in North Little Rock, Arkansas committed willful 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 North Little Rock, Arkansas Tax Evasion Lawyer Can Help
Tax lawyers in North Little Rock, Arkansas can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.
If you find yourself actually accused of tax evasion, and are innocent, you should hire a North Little Rock, Arkansas attorney with expertise 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.