Tax Evasion Lawyers in Streator
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 Streator, 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 Streator, Illinois
Both federal law and the law of Illinois treat tax evasion as a serious criminal offense.
Tax evaders in Streator 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.
On the other hand, if the prosecution can prove that a Streator, Illinois taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most grave punishment that's allowed by law. This can easily involve jail time.
A Streator, Illinois Tax Evasion Lawyer Can Help
An attorney in Streator, 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.
Of course, if you've actually been accused of tax evasion, you should contact a Streator, Illinois tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.