Tax Evasion in Show Low, Arizona
"Tax Evasion" refers to the crime of willfully failing to pay one's taxes, as required by Arizona law.
One of the most common prevalent tactics of tax evaders in Show Low, Arizona 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 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 Show Low, Arizona
The laws of the federal government, as well as Arizona take tax evasion quite seriously, making it a crime.
In Show Low, 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.
In the majority of tax evasion cases, however, the punishments are not so severe. This is especially likely in first offenses, when the amount of money involved is fairly small. Minor punishments for tax evasion normally mean a small fine, on top of an order to pay whatever taxes the taxpayer owes. A minor punishment is most likely when the government has trouble proving that fraud was involved, as opposed to an honest accounting error.
On the other hand, if the prosecution can establish that a Show Low, Arizona taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most severe punishment that's permitted by law. This can easily involve jail time.
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A Show Low, Arizona Tax Evasion Lawyer Can Help
An attorney in Show Low, Arizona specializing in tax law can help you comply with all the tax laws that apply to you, which makes it very unlikely that you'll ever be accused of tax evasion in the first place.
However, if you're truly accused of tax evasion, you will need a Show Low, Arizona tax attorney more than ever. If you are, in fact, innocent, a tax attorney can give you the best possible chance of being found not guilty.