Tax Evasion Lawyers in Cape Elizabeth
Within Maine "tax evasion" is the crime of failing to pay the taxes that they owe.
Most commonly, people who try to evade their taxes in Cape Elizabeth, Maine 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 Cape Elizabeth, Maine
Under federal and state law, including the laws of Maine, tax evasion is a very significant crime.
In Cape Elizabeth, the penalties for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to penalties in the tens (or hundreds) of thousands of dollars, and imprisonment.
Usually, an 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 willful evasion, as opposed to an honest error in accounting.
On the other hand, if the prosecution can show that a Cape Elizabeth, Maine 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 Cape Elizabeth, Maine Tax Evasion Lawyer Can Help
An attorney in Cape Elizabeth, Maine specializing in tax law can help you adhere with all the tax laws that apply to you, which makes it very unlikely that you'll ever be accused of tax evasion in the first place.
Of course, if you've really been accused of tax evasion, you should retain a Cape Elizabeth, Maine tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.