Tax Evasion Lawyers in Pana

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 Pana, 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 Pana, Illinois

Under federal and state law, including the laws of Illinois, tax evasion is a very egregious crime.

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

In most cases, especially when the amount of taxes evaded is small, and it's a first offense, the punishment will typically be fairly mild. It will typically result in an order to pay the taxes the defendant owes, plus a small financial penalty. This is especially likely when it cannot be proven that the failure to pay taxes was intentional.

However, if it can be clearly proven that a person or corporation in Pana, Illinois purposely 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 Pana, Illinois Tax Evasion Lawyer Can Help

Tax lawyers in Pana, 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 truly been accused of tax evasion, you should hire a Pana, Illinois tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.