Tax Evasion Lawyers in Peoria Heights
Within 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 Peoria Heights, 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 Peoria Heights, Illinois
Under federal and state law, including the laws of Illinois, tax evasion is a very egregious crime.
Punishments for evading one's taxes in Peoria Heights range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and penalties in the hundreds of thousands of dollars.
Usually, 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.
But, if the government can prove that a defendant in Peoria Heights, Illinois knowingly concealed income, in order to get out of paying taxes, a court will most likely impose the heaviest penalties allowed by law, including enormous fines, and several years in prison.
A Peoria Heights, Illinois Tax Evasion Lawyer Can Help
An attorney in Peoria Heights, Illinois specializing in tax law can help you adhere with all the tax laws that apply to you, which makes it very unlikely that you'll ever be accused of tax evasion in the first place.
If you find yourself really accused of tax evasion, and are innocent, you should hire a Peoria Heights, Illinois attorney with expertise practicing tax law, as soon as possible. Your tax attorney can help you defend yourself against the charges, ensuring that you have a good chance at being acquitted.