Tax Evasion Lawyers in Newington
"Tax Evasion" refers to the crime of knowingly failing to pay one's taxes, as required by Connecticut law.
Most frequently, people who try to evade their taxes in Newington, Connecticut will take steps to harbor their assets and income, or transferring their property to other legal entities in a fraudulent manner.
"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 prohibited 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 Newington, Connecticut
Under the laws of Connecticut, as well as federal law, tax evasion is a very severe criminal offense.
The penalties for tax evasion in Newington can range anywhere from small fines to huge fines, along with prison sentences of several years.
Most often, tax evasion - if it's a first offense and the tax liability is small - will not be cause for huge fines or imprisonment. This is especially true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was purposeful, as opposed to an honest mistake.
However, if it can be clearly proven that a person or corporation in Newington, Connecticut knowingly attempted to harbor income or assets for the purpose of getting out of taxes, a court will probably throw the book at them, so to speak. This can mean jail sentences measured in years, and fines in the six or seven figures.
A Newington, Connecticut Tax Evasion Lawyer Can Help
Tax lawyers in Newington, 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 Newington, Connecticut tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.