Tax Evasion in Van Buren, 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 Van Buren, 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 Van Buren, Arkansas
The federal government and the laws of Arkansas impose severe penalties for tax evasion - treating it as an extremely serious crime.
In Van Buren, tax evasion can result in anything from a relatively small fine, and a court order to pay any back taxes as well as interest, all the way up to financial penalties in the hundreds of thousands of dollars, as well as jail time.
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 deliberate, as opposed to an honest mistake.
On the other hand, if the prosecution can show that a Van Buren, Arkansas taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most severe punishment that's authorized by law. This can easily involve jail time.
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A Van Buren, Arkansas Tax Evasion Lawyer Can Help
A tax attorney in Van Buren, 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.
Of course, if you've really been accused of tax evasion, you should retain a Van Buren, Arkansas tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.