Tax Evasion Lawyers in Coventry
"Tax Evasion" refers to the crime of deliberately failing to pay one's taxes, as required by Connecticut law.
Usually, the strategy employed by tax evaders in Coventry, Connecticut 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.
You may also be acquainted with the term "tax avoidance." It is important 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 Coventry, Connecticut
The laws of the federal government, as well as Connecticut take tax evasion extremely seriously, making it a crime.
In Coventry, the penalties for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to penalties in the tens (or hundreds) of thousands of dollars, and imprisonment.
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 Coventry, Connecticut 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 Coventry, Connecticut Tax Evasion Lawyer Can Help
Tax lawyers in Coventry, Connecticut can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.
However, if you're really accused of tax evasion, you will need a Coventry, Connecticut 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.