Tax Evasion Lawyers in Franklin

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

Normally, the strategy employed by tax evaders in Franklin, 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 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 Franklin, Kentucky

Under the laws of Kentucky, as well as federal law, tax evasion is a very egregious criminal offense.

Tax evaders in Franklin 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.

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

But, if the government can prove that a defendant in Franklin, Kentucky purposely 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 Franklin, Kentucky Tax Evasion Lawyer Can Help

Tax lawyers in Franklin, Kentucky can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.

However, if you're truly accused of tax evasion, you will need a Franklin, Kentucky tax attorney more than ever. If you are, in fact, innocent, a tax attorney can give you the best possible chance of being found not guilty.