Tax Evasion Lawyers in Treasure Island
"Tax Evasion" refers to the crime of deliberately failing to pay one's taxes, as required by Florida law.
Most commonly, people who try to evade their taxes in Treasure Island, Florida will take steps to hide 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 Treasure Island, Florida
Under federal and state law, including the laws of Florida, tax evasion is a very serious crime.
In Treasure Island, the punishments for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to fines in the tens (or hundreds) of thousands of dollars, and imprisonment.
However, the punishments for tax evasion, especially first offenses involving relatively small amounts of money, is not normally so severe, especially when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.
On the other hand, if the prosecution can show that a Treasure Island, Florida taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most severe punishment that's authorized by law. This can easily involve jail time.
A Treasure Island, Florida Tax Evasion Lawyer Can Help
A tax attorney in Treasure Island, Florida 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 clearly what one's tax liability is, and a tax attorney can help.
Of course, if you've really been accused of tax evasion, you should retain a Treasure Island, Florida tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.