Tax Evasion Lawyers in Glencoe
In Minnesota "tax evasion" is the crime of failing to pay the taxes that they owe.
There are a few strategies that tax evaders use in Glencoe, Minnesota. One of the most typical tactics is to make it appear that the taxpayer has less taxable income than they actually do. There are a wide variety of ways to harbor income for the purpose of evading one's tax liability, but all of them are illegal.
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 using 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 Glencoe, Minnesota
Both federal law and the law of Minnesota treat tax evasion as a significant criminal offense.
Tax evaders in Glencoe 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.
Normally, a first offense of tax evasion, if the amount of tax evaded is relatively small, will not result in jail time or massive fines. This is especially the case if the government has trouble proving that the failure to pay taxes was the result of deliberate evasion, as opposed to an honest error in accounting.
But, if the government can prove that a defendant in Glencoe, Minnesota knowingly concealed income, in order to get out of paying taxes, a court will most likely impose the heaviest penalties allowed by law, including enormous fines, and several years in prison.
A Glencoe, Minnesota Tax Evasion Lawyer Can Help
Attorneys in Glencoe, Minnesota 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.
In the unfortunate event that you're truly charged with tax evasion, it's critical that you hire a knowledgeable tax attorney in Glencoe, Minnesota. 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.