Tax Evasion Lawyers in Genoa

Within Illinois "tax evasion" is the crime of failing to pay the taxes that they owe.

Typically, tax evasion is accompanied by an attempt to make it appear to the government of Genoa, Illinois that one's tax liability is lower than it actually is. This can include concealing income, making fraudulent transfers of property, and other illegal activities.

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 Genoa, Illinois

Both federal law and the law of Illinois treat tax evasion as a serious criminal offense.

In Genoa, tax evasion can result in anything from a comparatively small fine, and a court order to pay any back taxes as well as interest, all the way up to financial penalties in the hundreds of thousands of dollars, as well as jail time.

However, the punishments for tax evasion, particularly first offenses involving relatively small amounts of money, is not usually so severe, particularly when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.

But if the government is able to definitively prove that a defendant in Genoa, Illinois intentionally engaged in fraud to get out of paying taxes, a tax court is very unlikely to show any leniency, and may well sentence the defendant to prison time.

A Genoa, Illinois Tax Evasion Lawyer Can Help

A Genoa, Illinois 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 actually accused of tax evasion, and are innocent, you should hire a Genoa, Illinois 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.