Tax Evasion Lawyers in Monticello

Within 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 Monticello, 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 number 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 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 Monticello, Minnesota

The laws of the federal government, as well as Minnesota take tax evasion quite seriously, making it a crime.

Tax evaders in Monticello 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.

Most often, tax evasion - if it's a first offense and the tax liability is small - will not be cause for huge fines or imprisonment. This is particularly true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was intentional, as opposed to an honest mistake.

However, if it can be clearly proven that a person or corporation in Monticello, Minnesota purposely attempted to harbor 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 Monticello, Minnesota Tax Evasion Lawyer Can Help

Tax lawyers in Monticello, Minnesota can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.

Of course, if you've truly been accused of tax evasion, you should hire a Monticello, Minnesota tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.