Tax Evasion Lawyers in Frankenmuth
Within Michigan "tax evasion" is the crime of failing to pay the taxes that they owe.
Most commonly, people who try to evade their taxes in Frankenmuth, Michigan will take steps to hide their assets and income, or transferring their property to other legal entities in a fraudulent manner.
You may also be acquainted with the term "tax avoidance." It is essential 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 Frankenmuth, Michigan
The federal government and the laws of Michigan impose grave penalties for tax evasion - treating it as an extremely serious crime.
Punishments for evading one's taxes in Frankenmuth 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.
In the majority of tax evasion cases, however, the punishments are not so severe. This is particularly likely in first offenses, when the amount of money involved is fairly small. Minor punishments for tax evasion usually mean a small fine, on top of an order to pay whatever taxes the taxpayer owes. A minor punishment is most likely when the government has trouble proving that fraud was involved, as opposed to an honest accounting error.
However, if it can be clearly proven that a person or corporation in Frankenmuth, Michigan intentionally attempted to hide 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 Frankenmuth, Michigan Tax Evasion Lawyer Can Help
A Frankenmuth, Michigan 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 Frankenmuth, Michigan 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.