Tax Evasion Lawyers in Ludlow

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

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

Both federal law and the law of Kentucky treat tax evasion as a significant criminal offense.

Tax evaders in Ludlow 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.

Normally, an initial offense of tax evasion, if the amount of tax evaded is comparatively small, will not result in jail time or massive fines. This is particularly the case if the government has trouble proving that the failure to pay taxes was the result of intentional evasion, as opposed to an honest error in accounting.

On the other hand, if the prosecution can establish that a Ludlow, Kentucky taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most grave punishment that's permitted by law. This can easily involve jail time.

A Ludlow, Kentucky Tax Evasion Lawyer Can Help

An attorney in Ludlow, Kentucky specializing in tax law can help you adhere 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 the government truly charges you with tax evasion, it cannot be stressed enough that you need the assistance of a reliable Ludlow, 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.