Tax Evasion Lawyers in Woodfin
Tax Evasion in North Carolina is a criminal act in which someone deliberately fails to pay their taxes.
One of the most common prevalent tactics of tax evaders in Woodfin, North Carolina is to attempt to make it appear to an outside observer that their tax liability is lower than it truly is, such as by concealing income, fraudulently transferring property, and others.
"Tax evasion" should be distinguished from "tax avoidance." Tax evasion is the prohibited act of trying to hide one's tax liability. Tax avoidance, on the other hand, is perfectly legal, and simply involves utilizing the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Woodfin, North Carolina
Under federal and state law, including the laws of North Carolina, tax evasion is a very significant crime.
Punishments for evading one's taxes in Woodfin 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.
Normally, 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 willful evasion, as opposed to an honest error in accounting.
But if the government is able to definitively establish that a defendant in Woodfin, North Carolina intentionally engaged in fraud to get out of paying taxes, a tax court is very unlikely to show any leniency, and may well sentence the defendant to prison time.
A Woodfin, North Carolina Tax Evasion Lawyer Can Help
A Woodfin, North Carolina 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.
However, if you're truly accused of tax evasion, you will need a Woodfin, North Carolina 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.