Tax Evasion Lawyers in Islamorada

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

Most frequently, people who try to evade their taxes in Islamorada, Florida 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 deliberately 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 Islamorada, Florida

Under federal and state law, including the laws of Florida, tax evasion is a very significant crime.

Punishments for evading one's taxes in Islamorada 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 Islamorada, Florida 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 Islamorada, Florida Tax Evasion Lawyer Can Help

Attorneys in Islamorada, Florida who practice tax law can help you stay in conformity with your tax commitments. This is a good way to confirm that you won't be suspected of tax evasion in the first place.

Of course, if you've truly been accused of tax evasion, you should hire an Islamorada, Florida tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.