Tax Evasion in West Helena, Arkansas
"Tax Evasion" refers to the crime of deliberately failing to pay one's taxes, as required by Arkansas law.
One of the most common frequent tactics of tax evaders in West Helena, 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 acquainted with the term "tax avoidance." It is important 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 West Helena, Arkansas
The federal government and the laws of Arkansas impose grave penalties for tax evasion - treating it as an extremely serious crime.
In West Helena, tax evasion can result in anything from a comparatively 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.
In most cases, especially 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 willful.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in West Helena, 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 West Helena, Arkansas Tax Evasion Lawyer Can Help
A tax attorney in West Helena, Arkansas can ensure that you meet your tax liabilities, which will make an audit, or charge of tax evasion, less likely. Sometimes, it's challenging 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 West Helena, Arkansas tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.