Tax Evasion Lawyers in Mount Washington
Within Kentucky "tax evasion" is the crime of failing to pay the taxes that they owe.
Usually, the strategy employed by tax evaders in Mount Washington, 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 Mount Washington, Kentucky
Under federal and state law, including the laws of Kentucky, tax evasion is a very significant crime.
In Mount Washington, tax evasion can result in anything from a comparatively 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.
However, the punishments for tax evasion, particularly first offenses involving relatively small amounts of money, is not normally so severe, particularly when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.
But, if the government can prove that a defendant in Mount Washington, Kentucky willfully 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 Mount Washington, Kentucky Tax Evasion Lawyer Can Help
Attorneys in Mount Washington, Kentucky who practice tax law can help you stay in conformity with your tax commitments. This is a good way to confirm that you won't be suspected of tax evasion in the first place.
In the unfortunate event that you're really charged with tax evasion, it's important that you hire a reliable tax attorney in Mount Washington, Kentucky. If you are actually innocent, your tax attorney can help make sure that you have the best chance you can of being found not guilty.