Tax Evasion Lawyers in Storrs

"Tax Evasion" refers to the crime of purposely failing to pay one's taxes, as required by Connecticut law.

Most frequently, people who try to evade their taxes in Storrs, 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 purposely 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 Storrs, Connecticut

Under the laws of Connecticut, as well as federal law, tax evasion is a very severe criminal offense.

Punishments for evading one's taxes in Storrs range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and fines in the hundreds of thousands of dollars.

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.

But, if the government can prove that a defendant in Storrs, Connecticut purposely 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 Storrs, Connecticut Tax Evasion Lawyer Can Help

Tax lawyers in Storrs, Connecticut can help anyone from an individual to a big business pay their taxes more easily, and comply with federal and local tax laws.

In the unfortunate event that you're truly charged with tax evasion, it's crucial that you hire a knowledgeable tax attorney in Storrs, Connecticut. If you are actually innocent, your tax attorney can help make sure that you have the best chance you can of being found not guilty.