Tax Evasion Lawyers in Knoxville
"Tax Evasion" refers to the crime of deliberately failing to pay one's taxes, as required by Iowa law.
There are a few strategies that tax evaders use in Knoxville, 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 variety 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 deliberately attempting to get out of one's tax liability through unlawful means. Tax avoidance is perfectly legal, and involves using 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 Knoxville, Iowa
The laws of the federal government, as well as Iowa take tax evasion extremely seriously, making it a crime.
Tax evaders in Knoxville can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of punishments available, with the ones just mentioned representing the most severe options available.
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 Knoxville, Iowa 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 Knoxville, Iowa Tax Evasion Lawyer Can Help
A tax attorney in Knoxville, Iowa 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.
In the unfortunate event that you're really charged with tax evasion, it's imperative that you hire a reliable tax attorney in Knoxville, 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.