Tax Evasion Lawyers in Canton
Tax Evasion in Mississippi is a criminal act in which someone purposely fails to pay their taxes.
Typically, tax evasion is accompanied by an attempt to make it appear to the government of Canton, 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 Canton, Mississippi
Both federal law and the law of Mississippi treat tax evasion as a serious criminal offense.
Tax evaders in Canton 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.
However, the punishments for tax evasion, particularly first offenses involving relatively small amounts of money, is not usually so severe, particularly when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.
However, if it can be clearly proven that a person or corporation in Canton, Mississippi purposely attempted to conceal 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 Canton, Mississippi Tax Evasion Lawyer Can Help
Tax lawyers in Canton, Mississippi 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 actually been accused of tax evasion, you should contact a Canton, Mississippi tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.