Tax Evasion Lawyers in Monroe
Within Louisiana "tax evasion" is the crime of failing to pay the taxes that they owe.
Normally, the strategy employed by tax evaders in Monroe, Louisiana 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.
You may also be acquainted with the term "tax avoidance." It is important that you don't confuse this with "tax evasion." Tax avoidance is perfectly legal, and is probably something that every taxpayer does whenever they file, whether they know it or not. It involves employing legal methods to make one's tax liability as small as possible, taking advantages of deductions and other tax breaks.
Penalties for Tax Evasion in Monroe, Louisiana
The laws of the federal government, as well as Louisiana take tax evasion quite seriously, making it a crime.
In Monroe, 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 typically so severe, particularly when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.
On the other hand, if the prosecution can establish that a Monroe, Louisiana 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 Monroe, Louisiana Tax Evasion Lawyer Can Help
A Monroe, Louisiana attorney who concentrates in tax law can help ensure that you are in conformity with all applicable tax laws, making an accusation of tax evasion less likely.
However, if you're truly accused of tax evasion, you will need a Monroe, Louisiana 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.