Tax Evasion Lawyers in Loves Park

In 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 Loves Park, 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 Loves Park, Illinois

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

In Loves Park, the punishments for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to fines in the tens (or hundreds) of thousands of dollars, and imprisonment.

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

However, if it can be clearly proven that a person or corporation in Loves Park, Illinois intentionally attempted to harbor income or assets for the purpose of getting out of taxes, a court will probably throw the book at them, so to speak. This can mean jail sentences measured in years, and fines in the six or seven figures.

A Loves Park, Illinois Tax Evasion Lawyer Can Help

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

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