Tax Evasion Lawyers in West Memphis
"Tax Evasion" refers to the crime of willfully failing to pay one's taxes, as required by Arkansas law.
One of the most common prevalent tactics of tax evaders in West Memphis, 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 acquainted 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 West Memphis, Arkansas
The federal government and the laws of Arkansas impose grave penalties for tax evasion - treating it as an extremely serious crime.
In West Memphis, 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 typically be fairly mild. It will typically 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 intentional.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in West Memphis, Arkansas committed intentional 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.
A West Memphis, Arkansas Tax Evasion Lawyer Can Help
A tax attorney in West Memphis, 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 precisely what one's tax liability is, and a tax attorney can help.
If you find yourself truly accused of tax evasion, and are innocent, you should hire a West Memphis, 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.