Tax Evasion Lawyers in Berea
Within Kentucky "tax evasion" is the crime of failing to pay the taxes that they owe.
Typically, the strategy employed by tax evaders in Berea, Kentucky is to try and make it look like they have less taxable income than they actually do. This can be done by failing to report income, concealing it, or fraudulently transferring property.
"Tax evasion" should be distinguished from "tax avoidance." Tax evasion is the illegal act of trying to hide one's tax liability. Tax avoidance, on the other hand, is perfectly legal, and simply involves utilizing the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Berea, Kentucky
Under federal and state law, including the laws of Kentucky, tax evasion is a very egregious crime.
Punishments for evading one's taxes in Berea 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.
Most often, tax evasion - if it's a first offense and the tax liability is small - will not be cause for huge fines or imprisonment. This is particularly true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was intentional, as opposed to an honest mistake.
However, if it can be clearly proven that a person or corporation in Berea, Kentucky intentionally attempted to conceal 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 Berea, Kentucky Tax Evasion Lawyer Can Help
Tax lawyers in Berea, Kentucky 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 actually been accused of tax evasion, you should contact a Berea, Kentucky tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.