Tax Evasion Lawyers in Stratford
"Tax Evasion" refers to the crime of willfully failing to pay one's taxes, as required by Connecticut law.
Most frequently, people who try to evade their taxes in Stratford, 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 willfully 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 Stratford, Connecticut
Under the laws of Connecticut, as well as federal law, tax evasion is a very serious criminal offense.
Punishments for evading one's taxes in Stratford 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 is able to definitively establish that a defendant in Stratford, Connecticut intentionally engaged in fraud to get out of paying taxes, a tax court is highly unlikely to show any leniency, and may well sentence the defendant to prison time.
A Stratford, Connecticut Tax Evasion Lawyer Can Help
A tax attorney in Stratford, Connecticut can ensure that you meet your tax liabilities, which will make an audit, or charge of tax evasion, less likely. Sometimes, it's difficult to determine precisely what one's tax liability is, and a tax attorney can help.
Of course, if you've truly been accused of tax evasion, you should hire a Stratford, Connecticut tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.