Tax Evasion Lawyers in Lake Barrington

In 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 Lake Barrington, 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 using 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 Lake Barrington, Illinois

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

In Lake Barrington, tax evasion can result in anything from a relatively 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, especially first offenses involving relatively small amounts of money, is not usually so severe, especially when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.

But, if the government can prove that a defendant in Lake Barrington, Illinois deliberately concealed income, in order to get out of paying taxes, a court will most likely impose the heaviest penalties allowed by law, including enormous fines, and several years in prison.

A Lake Barrington, Illinois Tax Evasion Lawyer Can Help

Tax lawyers in Lake Barrington, Illinois can help anyone from an individual to a big business pay their taxes more easily, and comply with federal and local tax laws.

In the unfortunate event that you're actually charged with tax evasion, it's imperative that you hire a qualified tax attorney in Lake Barrington, Illinois. 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.