Tax Evasion Lawyers in South El Monte
"Tax Evasion" refers to the crime of willfully failing to pay one's taxes, as required by California law.
Usually, the strategy employed by tax evaders in South El Monte, California is to try and make it look like they have less taxable income than they actually do. This can be done by failing to report income, concealing it, or fraudulently transferring property.
It's important not to confuse "tax avoidance" and "tax evasion." They are two different things, but some people mistakenly use them interchangeably. Tax avoidance involves utilizing legal methods, such as tax deductions and exemptions, in a strategic manner, for the purpose of reducing one's tax liability. Tax avoidance is perfectly legal. Tax evasion involves fraud, and a deliberate attempt to avoid meeting one's legal commitments to pay taxes.
Penalties for Tax Evasion in South El Monte, California
Under federal and state law, including the laws of California, tax evasion is a very egregious crime.
In South El Monte, 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.
However, the punishments for tax evasion, particularly first offenses involving relatively small amounts of money, is not normally so severe, particularly 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 South El Monte, California taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most grave punishment that's authorized by law. This can easily involve jail time.
A South El Monte, California Tax Evasion Lawyer Can Help
A South El Monte, California attorney who concentrates in tax law can help ensure that you are in conformity with all applicable tax laws, making an accusation of tax evasion less likely.
In the unfortunate event that you're really charged with tax evasion, it's important that you hire a reliable tax attorney in South El Monte, California. If you are actually innocent, your tax attorney can help make sure that you have the best chance you can of being found not guilty.