Tax Evasion Lawyers in Norwood
In Massachusetts "tax evasion" is the crime of failing to pay the taxes that they owe.
Most often, people who try to evade their taxes in Norwood, Massachusetts will take steps to conceal their assets and income, or transferring their property to other legal entities in a fraudulent manner.
"Tax evasion" should be distinguished from "tax avoidance." Tax evasion is the illegal act of trying to hide one's tax liability. Tax avoidance, on the other hand, is perfectly legal, and simply involves using the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Norwood, Massachusetts
The federal government and the laws of Massachusetts impose severe penalties for tax evasion - treating it as an extremely serious crime.
Tax evaders in Norwood can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of punishments available, with the ones just mentioned representing the most severe options available.
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 purposeful, as opposed to an honest mistake.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Norwood, Massachusetts committed purposeful 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 Norwood, Massachusetts Tax Evasion Lawyer Can Help
Attorneys in Norwood, Massachusetts 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.
Of course, if you've actually been accused of tax evasion, you should contact a Norwood, Massachusetts tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.