Tax Evasion Lawyers in Lake Zurich

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

Normally, tax evasion is accompanied by an attempt to make it appear to the government of Lake Zurich, 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 Lake Zurich, Illinois

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

In Lake Zurich, 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 typically 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 establish that a defendant in Lake Zurich, 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 Lake Zurich, Illinois Tax Evasion Lawyer Can Help

A tax attorney in Lake Zurich, Illinois can ensure that you meet your tax liabilities, which will make an audit, or charge of tax evasion, less likely. Sometimes, it's challenging to determine precisely what one's tax liability is, and a tax attorney can help.

Of course, if you've truly been accused of tax evasion, you should hire a Lake Zurich, Illinois tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.