Tax Evasion Lawyers in Glasgow

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

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

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

Tax evaders in Glasgow can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of punishments available, with the ones just mentioned representing the most severe options available.

In most cases, particularly when the amount of taxes evaded is small, and it's a first offense, the punishment will typically be fairly mild. It will typically result in an order to pay the taxes the defendant owes, plus a small financial penalty. This is especially likely when it cannot be proven that the failure to pay taxes was purposeful.

However, if it can be clearly proven that a person or corporation in Glasgow, Kentucky willfully attempted to harbor 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 Glasgow, Kentucky Tax Evasion Lawyer Can Help

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

Of course, if you've truly been accused of tax evasion, you should hire a Glasgow, Kentucky tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.