Tax Evasion Lawyers in Lebanon
Within Kentucky "tax evasion" is the crime of failing to pay the taxes that they owe.
Usually, the strategy employed by tax evaders in Lebanon, 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 Lebanon, Kentucky
Both federal law and the law of Kentucky treat tax evasion as a severe criminal offense.
The penalties for tax evasion in Lebanon can range anywhere from small penalties to huge penalties, along with prison sentences of several years.
In the majority of tax evasion cases, however, the punishments are not so severe. This is particularly 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 Lebanon, Kentucky knowingly 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 Lebanon, Kentucky Tax Evasion Lawyer Can Help
A tax attorney in Lebanon, Kentucky can ensure that you meet your tax liabilities, which will make an audit, or charge of tax evasion, less likely. Sometimes, it's challenging to determine clearly what one's tax liability is, and a tax attorney can help.
If the government really charges you with tax evasion, it cannot be stressed enough that you need the assistance of a seasoned Lebanon, Kentucky tax attorney. Assuming you're actually innocent, your tax lawyer can help you prepare a defense, and ensure that you have a good chance of being found not guilty. On top of that, they can make getting through such a difficult time much easier.