Tax Evasion Lawyers in Monmouth

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 Monmouth, 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 Monmouth, Illinois

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

Tax evaders in Monmouth can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of punishments available, with the ones just mentioned representing the most severe options available.

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.

However, if it can be clearly proven that a person or corporation in Monmouth, Illinois deliberately attempted to hide 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 Monmouth, Illinois Tax Evasion Lawyer Can Help

Attorneys in Monmouth, Illinois who practice tax law can help you stay in compliance with your tax obligations. This is a good way to ensure that you won't be suspected of tax evasion in the first place.

In the unfortunate event that you're really charged with tax evasion, it's imperative that you hire a reliable tax attorney in Monmouth, 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.