Tax Evasion Lawyers in Shenandoah
"Tax Evasion" refers to the crime of intentionally failing to pay one's taxes, as required by Iowa law.
There are a few strategies that tax evaders use in Shenandoah, 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.
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 utilizing 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 Shenandoah, Iowa
Both federal law and the law of Iowa treat tax evasion as a severe criminal offense.
Tax evaders in Shenandoah 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.
Usually, an initial offense of tax evasion, if the amount of tax evaded is comparatively small, will not result in jail time or massive fines. This is particularly the case if the government has trouble proving that the failure to pay taxes was the result of intentional evasion, as opposed to an honest error in accounting.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Shenandoah, Iowa committed intentional fraud, in order to evade their legal duty to pay taxes, a tax court is probably going to impose a more severe penalty, which may include jail time, and large financial penalties.
A Shenandoah, Iowa Tax Evasion Lawyer Can Help
A Shenandoah, 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.
If you find yourself really accused of tax evasion, and are innocent, you should hire a Shenandoah, Iowa attorney with expertise 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.