Tax Evasion Lawyers in Savoy
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 Savoy, 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.
It's important not to confuse "tax avoidance" and "tax evasion." They are two different things, but some people mistakenly use them interchangeably. Tax avoidance involves utilizing legal methods, such as tax deductions and exemptions, in a strategic manner, for the purpose of reducing one's tax liability. Tax avoidance is perfectly legal. Tax evasion involves fraud, and a deliberate attempt to avoid meeting one's legal commitments to pay taxes.
Penalties for Tax Evasion in Savoy, Illinois
Both federal law and the law of Illinois treat tax evasion as a severe criminal offense.
In Savoy, tax evasion can result in anything from a comparatively small fine, and a court order to pay any back taxes as well as interest, all the way up to financial penalties in the hundreds of thousands of dollars, as well as jail time.
In the majority of tax evasion cases, however, the punishments are not so severe. This is particularly likely in first offenses, when the amount of money involved is fairly small. Minor punishments for tax evasion usually mean a small fine, on top of an order to pay whatever taxes the taxpayer owes. A minor punishment is most likely when the government has trouble proving that fraud was involved, as opposed to an honest accounting error.
On the other hand, if the prosecution can show that a Savoy, Illinois taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most grave punishment that's authorized by law. This can easily involve jail time.
A Savoy, Illinois Tax Evasion Lawyer Can Help
A tax attorney in Savoy, Illinois can ensure that you meet your tax liabilities, which will make an audit, or charge of tax evasion, less likely. Sometimes, it's challenging to determine clearly what one's tax liability is, and a tax attorney can help.
In the unfortunate event that you're really charged with tax evasion, it's critical that you hire a reliable tax attorney in Savoy, 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.