Tax Evasion Lawyers in Cromwell
"Tax Evasion" refers to the crime of knowingly failing to pay one's taxes, as required by Connecticut law.
Normally, the strategy employed by tax evaders in Cromwell, 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 familiar with the term "tax avoidance." It is critical 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 Cromwell, Connecticut
The laws of the federal government, as well as Connecticut take tax evasion quite seriously, making it a crime.
In Cromwell, the punishments for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to fines in the tens (or hundreds) of thousands of dollars, and imprisonment.
However, the punishments for tax evasion, especially first offenses involving relatively small amounts of money, is not typically 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 establish that a Cromwell, Connecticut 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.
A Cromwell, Connecticut Tax Evasion Lawyer Can Help
Tax lawyers in Cromwell, Connecticut can help anyone from an individual to a big business pay their taxes more easily, and comply with federal and local tax laws.
Of course, if you've truly been accused of tax evasion, you should hire a Cromwell, Connecticut tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.