Tax Evasion Lawyers in Exeter
In Rhode Island, "tax evasion" is a crime that involves a purposeful failure to pay the taxes that the taxpayer legally owes.
One of the most common frequent tactics of tax evaders in Exeter, Rhode Island 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.
You may also be familiar with the term "tax avoidance." It is important that you don't confuse this with "tax evasion." Tax avoidance is perfectly legal, and is probably something that every taxpayer does whenever they file, whether they know it or not. It involves employing legal methods to make one's tax liability as small as possible, taking advantages of deductions and other tax breaks.
Penalties for Tax Evasion in Exeter, Rhode Island
The federal government and the laws of Rhode Island impose severe penalties for tax evasion - treating it as an extremely serious crime.
In Exeter, 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 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.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Exeter, Rhode Island committed purposeful 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 Exeter, Rhode Island Tax Evasion Lawyer Can Help
A tax attorney in Exeter, Rhode Island 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 an Exeter, Rhode Island tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.