Tax Evasion Lawyers in Palatka
"Tax Evasion" refers to the crime of purposely failing to pay one's taxes, as required by Florida law.
Most frequently, people who try to evade their taxes in Palatka, Florida will take steps to harbor their assets and income, or transferring their property to other legal entities in a fraudulent manner.
You should not confuse "tax evasion" with "tax avoidance." Tax evasion is illegal, and involves deliberately failing to pay one's taxes which they lawfully owe. Tax avoidance, on the other hand, is legal, and involves using legal strategies to lower one's legal tax liability. For example, strategically using deductions and tax credits to lower the amount of money you are legally obliged to pay, is an example of tax avoidance, assuming you actually pay your tax bill, whatever it ends up being.
Penalties for Tax Evasion in Palatka, Florida
Both federal law and the law of Florida treat tax evasion as a significant criminal offense.
Punishments for evading one's taxes in Palatka 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.
However, if it can be clearly proven that a person or corporation in Palatka, Florida purposely attempted to harbor income or assets for the purpose of getting out of taxes, a court will probably throw the book at them, so to speak. This can mean jail sentences measured in years, and fines in the six or seven figures.
A Palatka, Florida Tax Evasion Lawyer Can Help
Tax lawyers in Palatka, Florida can help anyone from an individual to a big business pay their taxes more easily, and comply with federal and local tax laws.
If you find yourself truly accused of tax evasion, and are innocent, you should hire a Palatka, Florida attorney with experience 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.