Tax Evasion Lawyers in Woonsocket
In Rhode Island, "tax evasion" is a crime that involves a willful failure to pay the taxes that the taxpayer legally owes.
One of the most common prevalent tactics of tax evaders in Woonsocket, Rhode Island 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.
You may also be acquainted with the term "tax avoidance." It is critical 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 Woonsocket, Rhode Island
The federal government and the laws of Rhode Island impose grave penalties for tax evasion - treating it as an extremely serious crime.
Punishments for evading one's taxes in Woonsocket 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.
Most often, tax evasion - if it's a first offense and the tax liability is small - will not be cause for huge fines or imprisonment. This is particularly true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was willful, as opposed to an honest mistake.
But if the government is able to definitively establish that a defendant in Woonsocket, Rhode Island 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 Woonsocket, Rhode Island Tax Evasion Lawyer Can Help
A tax attorney in Woonsocket, 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 challenging to determine precisely what one's tax liability is, and a tax attorney can help.
If you find yourself truly accused of tax evasion, and are innocent, you should hire a Woonsocket, Rhode Island attorney with expertise practicing tax law, as soon as possible. Your tax attorney can help you defend yourself against the charges, ensuring that you have a good chance at being acquitted.