Tax Evasion Lawyers in Foster City
"Tax Evasion" refers to the crime of knowingly failing to pay one's taxes, as required by California law.
Usually, the strategy employed by tax evaders in Foster City, 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.
"Tax evasion" should not be confused with "tax avoidance." Tax evasion is the act of knowingly attempting to get out of one's tax liability through unlawful means. Tax avoidance is perfectly legal, and involves using legal strategies (such as taking advantage of deductions and tax credits) to reduce one's legal tax liability. However, someone engaging in tax avoidance typically intends to pay whatever they end up owing, even as they try to reduce the amount they owe.
Penalties for Tax Evasion in Foster City, California
The laws of the federal government, as well as California take tax evasion extremely seriously, making it a crime.
Tax evaders in Foster City can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of punishments available, with the ones just mentioned representing the most severe options available.
Usually, a first offense of tax evasion, if the amount of tax evaded is relatively small, will not result in jail time or massive fines. This is especially the case if the government has trouble proving that the failure to pay taxes was the result of purposeful evasion, as opposed to an honest error in accounting.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Foster City, California committed purposeful 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 Foster City, California Tax Evasion Lawyer Can Help
A Foster City, California attorney who specializes in tax law can help ensure that you are in compliance with all applicable tax laws, making an accusation of tax evasion less likely.
If the government really charges you with tax evasion, it cannot be stressed enough that you need the assistance of a brilliant Foster City, California 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.