Tax Evasion Lawyers in Grand Island
Tax Evasion in Nebraska is a criminal act in which someone willfully fails to pay their taxes.
One of the most common frequent tactics of tax evaders in Grand Island, Nebraska is to attempt to make it appear to an outside observer that their tax liability is lower than it really is, such as by concealing income, fraudulently transferring property, and others.
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 Grand Island, Nebraska
Under federal and state law, including the laws of Nebraska, tax evasion is a very serious crime.
In Grand Island, the punishments for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to fines in the tens (or hundreds) of thousands of dollars, and imprisonment.
In most cases, particularly when the amount of taxes evaded is small, and it's a first offense, the punishment will normally be fairly mild. It will normally result in an order to pay the taxes the defendant owes, plus a small financial penalty. This is especially likely when it cannot be proven that the failure to pay taxes was deliberate.
However, if it can be clearly proven that a person or corporation in Grand Island, Nebraska willfully attempted to hide 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 Grand Island, Nebraska Tax Evasion Lawyer Can Help
Tax lawyers in Grand Island, Nebraska can help anyone from an individual to a big business pay their taxes more easily, and comply with federal and local tax laws.
Of course, if you've really been accused of tax evasion, you should retain a Grand Island, Nebraska tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.