Tax Evasion Lawyers in Lake Villa
In Illinois "tax evasion" is the crime of failing to pay the taxes that they owe.
Usually, tax evasion is accompanied by an attempt to make it appear to the government of Lake Villa, 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 Villa, Illinois
The laws of the federal government, as well as Illinois take tax evasion extremely seriously, making it a crime.
In Lake Villa, 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 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 Lake Villa, Illinois 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 Lake Villa, Illinois Tax Evasion Lawyer Can Help
Tax lawyers in Lake Villa, 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 really charged with tax evasion, it's critical that you hire a reliable tax attorney in Lake Villa, 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.