Tax Evasion Lawyers in Suffield
"Tax Evasion" refers to the crime of intentionally failing to pay one's taxes, as required by Connecticut law.
Most frequently, people who try to evade their taxes in Suffield, 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 intentionally attempting to get out of one's tax liability through prohibited 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 Suffield, Connecticut
Under the laws of Connecticut, as well as federal law, tax evasion is a very significant criminal offense.
Punishments for evading one's taxes in Suffield range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and penalties in the hundreds of thousands of dollars.
However, the punishments for tax evasion, particularly first offenses involving relatively small amounts of money, is not typically so severe, particularly 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 Suffield, Connecticut intentionally engaged in fraud to get out of paying taxes, a tax court is very unlikely to show any leniency, and may well sentence the defendant to prison time.
A Suffield, Connecticut Tax Evasion Lawyer Can Help
A tax attorney in Suffield, Connecticut can ensure that you meet your tax liabilities, which will make an audit, or charge of tax evasion, less likely. Sometimes, it's challenging to determine precisely what one's tax liability is, and a tax attorney can help.
In the unfortunate event that you're truly charged with tax evasion, it's essential that you hire a knowledgeable tax attorney in Suffield, 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.