Tax Evasion in Springdale, 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 frequent tactics of tax evaders in Springdale, 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 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 Springdale, Arkansas
Under the laws of Arkansas, as well as federal law, tax evasion is a very serious criminal offense.
Punishments for evading one's taxes in Springdale 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.
However, the punishments for tax evasion, especially first offenses involving relatively small amounts of money, is not normally so severe, especially when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.
But, if the government can prove that a defendant in Springdale, Arkansas purposely concealed income, in order to get out of paying taxes, a court will most likely impose the heaviest penalties allowed by law, including enormous fines, and several years in prison.
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A Springdale, Arkansas Tax Evasion Lawyer Can Help
A tax attorney in Springdale, 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 clearly what one's tax liability is, and a tax attorney can help.
In the unfortunate event that you're really charged with tax evasion, it's crucial that you hire a reliable tax attorney in Springdale, 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.