Tax Evasion Lawyers in Lafayette
In Indiana "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 Lafayette, Indiana 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 may also be familiar with the term "tax avoidance." It is essential that you don't confuse this with "tax evasion." Tax avoidance is perfectly legal, and is probably something that every taxpayer does whenever they file, whether they know it or not. It involves employing legal methods to make one's tax liability as small as possible, taking advantages of deductions and other tax breaks.
Penalties for Tax Evasion in Lafayette, Indiana
Both federal law and the law of Indiana treat tax evasion as a severe criminal offense.
In Lafayette, tax evasion can result in anything from a relatively 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 especially 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 Lafayette, Indiana taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most severe punishment that's authorized by law. This can easily involve jail time.
A Lafayette, Indiana Tax Evasion Lawyer Can Help
An attorney in Lafayette, Indiana specializing in tax law can help you comply 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 really been accused of tax evasion, you should retain a Lafayette, Indiana tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.