Tax Evasion in Prescott Valley, Arizona
"Tax Evasion" refers to the crime of purposely failing to pay one's taxes, as required by Arizona law.
One of the most common frequent tactics of tax evaders in Prescott Valley, Arizona 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 Prescott Valley, Arizona
The laws of the federal government, as well as Arizona take tax evasion extremely seriously, making it a crime.
In Prescott Valley, 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.
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.
On the other hand, if the prosecution can show that a Prescott Valley, Arizona 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 Prescott Valley, Arizona Tax Evasion Lawyer Can Help
A tax attorney in Prescott Valley, Arizona 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.
If the government really charges you with tax evasion, it cannot be stressed enough that you need the assistance of a brilliant Prescott Valley, Arizona tax attorney. Assuming you're actually innocent, your tax lawyer can help you prepare a defense, and ensure that you have a good chance of being found not guilty. On top of that, they can make getting through such a difficult time much easier.