Tax Evasion Lawyers in Silver Spring
Within Maryland "tax evasion" is the crime of failing to pay the taxes that they owe.
Most commonly, people who try to evade their taxes in Silver Spring, Maryland will take steps to hide their assets and income, or transferring their property to other legal entities in a fraudulent manner.
You should not confuse "tax evasion" with "tax avoidance." Tax evasion is illegal, and involves deliberately failing to pay one's taxes which they lawfully owe. Tax avoidance, on the other hand, is legal, and involves utilizing legal strategies to lower one's legal tax liability. For example, strategically using deductions and tax credits to lower the amount of money you are legally obliged to pay, is an example of tax avoidance, assuming you actually pay your tax bill, whatever it ends up being.
Penalties for Tax Evasion in Silver Spring, Maryland
Both federal law and the law of Maryland treat tax evasion as a severe criminal offense.
Tax evaders in Silver Spring can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of penalties available, with the ones just mentioned representing the most severe options available.
Usually, a initial offense of tax evasion, if the amount of tax evaded is comparatively small, will not result in jail time or massive fines. This is particularly the case if the government has trouble proving that the failure to pay taxes was the result of intentional evasion, as opposed to an honest error in accounting.
On the other hand, if the prosecution can show that a Silver Spring, Maryland taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most grave punishment that's authorized by law. This can easily involve jail time.
A Silver Spring, Maryland Tax Evasion Lawyer Can Help
A Silver Spring, Maryland 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.
If the government really charges you with tax evasion, it cannot be stressed enough that you need the assistance of a seasoned Silver Spring, Maryland tax attorney. Assuming you're actually innocent, your tax lawyer can help you prepare a defense, and ensure that you have a good chance of being found not guilty. On top of that, they can make getting through such a difficult time much easier.