Tax Evasion Lawyers in Iowa City

"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 Iowa City, Iowa. One of the most common 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 conceal 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 illegal 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 Iowa City, Iowa

The laws of the federal government, as well as Iowa take tax evasion very seriously, making it a crime.

Tax evaders in Iowa City 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.

Most often, tax evasion - if it's a first offense and the tax liability is small - will not be cause for huge fines or imprisonment. This is particularly true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was intentional, as opposed to an honest mistake.

However, if it can be clearly proven that a person or corporation in Iowa City, Iowa purposely attempted to conceal 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 Iowa City, Iowa Tax Evasion Lawyer Can Help

Tax lawyers in Iowa City, Iowa can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.

In the unfortunate event that you're actually charged with tax evasion, it's crucial that you hire a qualified tax attorney in Iowa City, 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.