Tax Evasion Lawyers in Hannibal
Tax Evasion in Missouri is a criminal act in which someone willfully fails to pay their taxes.
Normally, tax evasion is accompanied by an attempt to make it appear to the government of Hannibal, Missouri that one's tax liability is lower than it actually is. This can include concealing income, making fraudulent transfers of property, and other illegal activities.
"Tax evasion" should not be confused with "tax avoidance." Tax evasion is the act of willfully attempting to get out of one's tax liability through prohibited means. Tax avoidance is perfectly legal, and involves utilizing legal strategies (such as taking advantage of deductions and tax credits) to reduce one's legal tax liability. However, someone engaging in tax avoidance typically intends to pay whatever they end up owing, even as they try to reduce the amount they owe.
Penalties for Tax Evasion in Hannibal, Missouri
The federal government and the laws of Missouri impose grave penalties for tax evasion - treating it as an extremely serious crime.
Punishments for evading one's taxes in Hannibal 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 normally 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 the relevant tax authorities are able to demonstrate that a taxpayer in Hannibal, Missouri committed intentional fraud, in order to evade their legal duty to pay taxes, a tax court is probably going to impose a more severe penalty, which may include jail time, and large financial penalties.
A Hannibal, Missouri Tax Evasion Lawyer Can Help
A Hannibal, Missouri 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 truly charges you with tax evasion, it cannot be stressed enough that you need the assistance of a reliable Hannibal, Missouri 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.