Tax Evasion Lawyers in Mchenry County
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 Mchenry County, 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 Mchenry County, Illinois
The laws of the federal government, as well as Illinois take tax evasion very seriously, making it a crime.
Tax evaders in Mchenry County can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of penalties available, with the ones just mentioned representing the most severe options available.
Typically, an initial offense of tax evasion, if the amount of tax evaded is comparatively small, will not result in jail time or massive fines. This is particularly the case if the government has trouble proving that the failure to pay taxes was the result of intentional evasion, as opposed to an honest error in accounting.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Mchenry County, Illinois committed intentional fraud, in order to evade their legal duty to pay taxes, a tax court is probably going to impose a more severe penalty, which may include jail time, and large financial penalties.
A Mchenry County, Illinois Tax Evasion Lawyer Can Help
Tax lawyers in Mchenry County, Illinois can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.
Of course, if you've actually been accused of tax evasion, you should contact a Mchenry County, Illinois tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.