Tax Evasion Lawyers in O'fallon
Tax Evasion in Missouri is a criminal act in which someone willfully fails to pay their taxes.
Typically, tax evasion is accompanied by an attempt to make it appear to the government of O'fallon, 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 illegal means. Tax avoidance is perfectly legal, and involves using 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 O
The laws of the federal government, as well as Missouri take tax evasion very seriously, making it a crime.
Tax evaders in O'fallon 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.
However, the punishments for tax evasion, especially first offenses involving relatively small amounts of money, is not usually so severe, especially when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.
On the other hand, if the prosecution can prove that a O'fallon, Missouri taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most severe punishment that's allowed by law. This can easily involve jail time.
A tax attorney in O'fallon, Missouri can ensure that you meet your tax liabilities, which will make an audit, or charge of tax evasion, less likely. Sometimes, it's difficult to determine exactly what one's tax liability is, and a tax attorney can help.
Of course, if you've actually been accused of tax evasion, you should contact a O'fallon, Missouri tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.