Tax Evasion Lawyers in New London County
"Tax Evasion" refers to the crime of knowingly failing to pay one's taxes, as required by Connecticut law.
Typically, the strategy employed by tax evaders in New London County, 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 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 New London County, Connecticut
The laws of the federal government, as well as Connecticut take tax evasion very seriously, making it a crime.
The penalties for tax evasion in New London County can range anywhere from small penalties to huge penalties, along with prison sentences of several years.
In the majority of tax evasion cases, however, the punishments are not so severe. This is particularly likely in first offenses, when the amount of money involved is fairly small. Minor punishments for tax evasion typically 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 prove that a New London County, Connecticut taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most grave punishment that's allowed by law. This can easily involve jail time.
A New London County, Connecticut Tax Evasion Lawyer Can Help
An attorney in New London County, Connecticut specializing in tax law can help you adhere 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.
Of course, if you've actually been accused of tax evasion, you should contact a New London County, Connecticut tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.