Tax Evasion Lawyers in Greenwood
Tax Evasion in Mississippi is a criminal act in which someone purposely fails to pay their taxes.
Usually, tax evasion is accompanied by an attempt to make it appear to the government of Greenwood, 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 using 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 obligations to pay taxes.
Penalties for Tax Evasion in Greenwood, Mississippi
The federal government and the laws of Mississippi impose severe penalties for tax evasion - treating it as an extremely serious crime.
In Greenwood, tax evasion can result in anything from a relatively small fine, and a court order to pay any back taxes as well as interest, all the way up to financial penalties in the hundreds of thousands of dollars, as well as jail time.
In the majority of tax evasion cases, however, the punishments are not so severe. This is especially likely in first offenses, when the amount of money involved is fairly small. Minor punishments for tax evasion usually 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.
On the other hand, if the prosecution can show that a Greenwood, Mississippi taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most severe punishment that's authorized by law. This can easily involve jail time.
A Greenwood, Mississippi Tax Evasion Lawyer Can Help
A tax attorney in Greenwood, Mississippi 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 clearly what one's tax liability is, and a tax attorney can help.
Of course, if you've really been accused of tax evasion, you should retain a Greenwood, Mississippi tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.