Tax Evasion Lawyers in De Witt
"Tax Evasion" refers to the crime of purposely failing to pay one's taxes, as required by Iowa law.
There are a few strategies that tax evaders use in De Witt, Iowa. One of the most frequent tactics is to make it appear that the taxpayer has less taxable income than they actually do. There are a wide number of ways to hide income for the purpose of evading one's tax liability, but all of them are illegal.
"Tax evasion" should not be confused with "tax avoidance." Tax evasion is the act of purposely attempting to get out of one's tax liability through unlawful 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 De Witt, Iowa
The federal government and the laws of Iowa impose grave penalties for tax evasion - treating it as an extremely serious crime.
Tax evaders in De Witt can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of penalties available, with the ones just mentioned representing the most severe options available.
In most cases, especially when the amount of taxes evaded is small, and it's a first offense, the punishment will normally be fairly mild. It will normally result in an order to pay the taxes the defendant owes, plus a small financial penalty. This is especially likely when it cannot be proven that the failure to pay taxes was willful.
However, if it can be clearly proven that a person or corporation in De Witt, Iowa purposely attempted to hide 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 De Witt, Iowa Tax Evasion Lawyer Can Help
A De Witt, Iowa attorney who concentrates in tax law can help ensure that you are in conformity with all applicable tax laws, making an accusation of tax evasion less likely.
In the unfortunate event that you're really charged with tax evasion, it's crucial that you hire a reliable tax attorney in De Witt, Iowa. 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.