Tax Evasion Lawyers in Boone County

Within Kentucky "tax evasion" is the crime of failing to pay the taxes that they owe.

Typically, the strategy employed by tax evaders in Boone County, 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 Boone County, 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 Boone County 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.

However, the punishments for tax evasion, particularly first offenses involving relatively small amounts of money, is not usually so severe, particularly when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.

However, if it can be clearly proven that a person or corporation in Boone County, Kentucky deliberately 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 Boone County, Kentucky Tax Evasion Lawyer Can Help

A Boone County, Kentucky attorney who concentrates in tax law can help ensure that you are in conformity with all applicable tax laws, making an accusation of tax evasion less likely.

If you find yourself actually accused of tax evasion, and are innocent, you should hire a Boone County, Kentucky 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.