Tax Evasion Lawyers in Paintsville

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

Typically, the strategy employed by tax evaders in Paintsville, 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 Paintsville, Kentucky

Under federal and state law, including the laws of Kentucky, tax evasion is a very egregious crime.

In Paintsville, 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.

In most cases, especially when the amount of taxes evaded is small, and it's a first offense, the punishment will usually be fairly mild. It will usually 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 intentional.

However, if the relevant tax authorities are able to demonstrate that a taxpayer in Paintsville, Kentucky committed intentional 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 Paintsville, Kentucky Tax Evasion Lawyer Can Help

Tax lawyers in Paintsville, Kentucky can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.

However, if you're actually accused of tax evasion, you will need a Paintsville, 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.