Tax Evasion Lawyers in Middlesborough
In Kentucky "tax evasion" is the crime of failing to pay the taxes that they owe.
Usually, the strategy employed by tax evaders in Middlesborough, 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 Middlesborough, Kentucky
Under federal and state law, including the laws of Kentucky, tax evasion is a very serious crime.
In Middlesborough, 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.
Most often, tax evasion - if it's a first offense and the tax liability is small - will not be cause for huge fines or imprisonment. This is especially true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was deliberate, as opposed to an honest mistake.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Middlesborough, Kentucky committed deliberate fraud, in order to evade their legal duty to pay taxes, a tax court is probably going to impose a more severe penalty, which may include jail time, and large financial penalties.
A Middlesborough, Kentucky Tax Evasion Lawyer Can Help
Attorneys in Middlesborough, Kentucky who practice tax law can help you stay in compliance with your tax obligations. This is a good way to ensure that you won't be suspected of tax evasion in the first place.
However, if you're really accused of tax evasion, you will need a Middlesborough, 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.