Tax Evasion Lawyers in Elizabethtown
In Kentucky "tax evasion" is the crime of failing to pay the taxes that they owe.
Usually, the strategy employed by tax evaders in Elizabethtown, 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.
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 using 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 obligations to pay taxes.
Penalties for Tax Evasion in Elizabethtown, Kentucky
Under the laws of Kentucky, as well as federal law, tax evasion is a very serious criminal offense.
The penalties for tax evasion in Elizabethtown can range anywhere from small fines to huge fines, along with prison sentences of several years.
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.
But, if the government can prove that a defendant in Elizabethtown, Kentucky willfully concealed income, in order to get out of paying taxes, a court will most likely impose the heaviest penalties allowed by law, including enormous fines, and several years in prison.
A Elizabethtown, Kentucky Tax Evasion Lawyer Can Help
An attorney in Elizabethtown, Kentucky 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.
If you find yourself really accused of tax evasion, and are innocent, you should hire an Elizabethtown, Kentucky attorney with experience 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.