Tax Evasion Lawyers in Oxford
"Tax Evasion" refers to the crime of deliberately failing to pay one's taxes, as required by Connecticut law.
Most commonly, people who try to evade their taxes in Oxford, Connecticut will take steps to hide 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 deliberately attempting to get out of one's tax liability through unlawful means. Tax avoidance is perfectly legal, and involves utilizing 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 Oxford, Connecticut
Under the laws of Connecticut, as well as federal law, tax evasion is a very significant criminal offense.
The penalties for tax evasion in Oxford can range anywhere from small penalties to huge penalties, along with prison sentences of several years.
In most cases, especially when the amount of taxes evaded is small, and it's a first offense, the punishment will normally be fairly mild. It will normally result in an order to pay the taxes the defendant owes, plus a small financial penalty. This is especially likely when it cannot be proven that the failure to pay taxes was willful.
But, if the government can prove that a defendant in Oxford, Connecticut deliberately concealed income, in order to get out of paying taxes, a court will most likely impose the heaviest penalties allowed by law, including enormous fines, and several years in prison.
A Oxford, Connecticut Tax Evasion Lawyer Can Help
Tax lawyers in Oxford, Connecticut can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.
If you find yourself really accused of tax evasion, and are innocent, you should hire an Oxford, Connecticut attorney with expertise practicing tax law, as soon as possible. Your tax attorney can help you defend yourself against the charges, ensuring that you have a good chance at being acquitted.