Tax Evasion Lawyers in Searcy
"Tax Evasion" refers to the crime of intentionally failing to pay one's taxes, as required by Arkansas law.
One of the most common prevalent tactics of tax evaders in Searcy, 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.
You may also be familiar with the term "tax avoidance." It is essential 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 Searcy, Arkansas
Under the laws of Arkansas, as well as federal law, tax evasion is a very severe criminal offense.
Punishments for evading one's taxes in Searcy range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and fines in the hundreds of thousands of dollars.
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 Searcy, 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.
A Searcy, Arkansas Tax Evasion Lawyer Can Help
A tax attorney in Searcy, 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 essential that you hire a knowledgeable tax attorney in Searcy, 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.