Tax Evasion Lawyers in Hazard
In Kentucky "tax evasion" is the crime of failing to pay the taxes that they owe.
Normally, the strategy employed by tax evaders in Hazard, 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 Hazard, Kentucky
Both federal law and the law of Kentucky treat tax evasion as a significant criminal offense.
In Hazard, tax evasion can result in anything from a relatively small fine, and a court order to pay any back taxes as well as interest, all the way up to financial penalties in the hundreds of thousands of dollars, as well as jail time.
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 deliberate.
But, if the government can prove that a defendant in Hazard, Kentucky intentionally 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 Hazard, Kentucky Tax Evasion Lawyer Can Help
Tax lawyers in Hazard, Kentucky can help anyone from an individual to a big business pay their taxes more easily, and comply with federal and local tax laws.
If you find yourself truly accused of tax evasion, and are innocent, you should hire a Hazard, 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.