Tax Evasion Lawyers in Biloxi
Tax Evasion in Mississippi is a criminal act in which someone knowingly fails to pay their taxes.
Typically, tax evasion is accompanied by an attempt to make it appear to the government of Biloxi, Mississippi 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.
It's important not to confuse "tax avoidance" and "tax evasion." They are two different things, but some people mistakenly use them interchangeably. Tax avoidance involves utilizing legal methods, such as tax deductions and exemptions, in a strategic manner, for the purpose of reducing one's tax liability. Tax avoidance is perfectly legal. Tax evasion involves fraud, and a deliberate attempt to avoid meeting one's legal commitments to pay taxes.
Penalties for Tax Evasion in Biloxi, Mississippi
Both federal law and the law of Mississippi treat tax evasion as a serious criminal offense.
Tax evaders in Biloxi 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.
Typically, an initial offense of tax evasion, if the amount of tax evaded is comparatively small, will not result in jail time or massive fines. This is particularly the case if the government has trouble proving that the failure to pay taxes was the result of intentional evasion, as opposed to an honest error in accounting.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Biloxi, Mississippi 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 Biloxi, Mississippi Tax Evasion Lawyer Can Help
Attorneys in Biloxi, Mississippi who practice tax law can help you stay in conformity with your tax commitments. This is a good way to confirm that you won't be suspected of tax evasion in the first place.
However, if you're actually accused of tax evasion, you will need a Biloxi, Mississippi tax attorney more than ever. If you are, in fact, innocent, a tax attorney can give you the best possible chance of being found not guilty.