Tax Evasion Lawyers in Hampden
Within Maine "tax evasion" is the crime of failing to pay the taxes that they owe.
Most often, people who try to evade their taxes in Hampden, Maine will take steps to conceal 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 Hampden, Maine
Under federal and state law, including the laws of Maine, tax evasion is a very significant crime.
Punishments for evading one's taxes in Hampden range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and penalties in the hundreds of thousands of dollars.
However, the punishments for tax evasion, particularly first offenses involving relatively small amounts of money, is not usually so severe, particularly when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.
However, if it can be clearly proven that a person or corporation in Hampden, Maine intentionally attempted to conceal income or assets for the purpose of getting out of taxes, a court will probably throw the book at them, so to speak. This can mean jail sentences measured in years, and fines in the six or seven figures.
A Hampden, Maine Tax Evasion Lawyer Can Help
Attorneys in Hampden, Maine who practice tax law can help you stay in conformity with your tax commitments. This is a good way to confirm that you won't be suspected of tax evasion in the first place.
In the unfortunate event that you're actually charged with tax evasion, it's essential that you hire a qualified tax attorney in Hampden, Maine. If you are actually innocent, your tax attorney can help make sure that you have the best chance you can of being found not guilty.