Tax Evasion Lawyers in Lexington
In South Carolina, "tax evasion" is a crime that involves a willful failure to pay the taxes that the taxpayer legally owes.
Normally, the strategy employed by tax evaders in Lexington, South Carolina is to try and make it look like they have less taxable income than they actually do. This can be done by failing to report income, concealing it, or fraudulently transferring property.
"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 using the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Lexington, South Carolina
Both federal law and the law of South Carolina treat tax evasion as a significant criminal offense.
The penalties for tax evasion in Lexington can range anywhere from small fines to huge fines, along with prison sentences of several years.
Normally, a first offense of tax evasion, if the amount of tax evaded is relatively small, will not result in jail time or massive fines. This is especially the case if the government has trouble proving that the failure to pay taxes was the result of deliberate evasion, as opposed to an honest error in accounting.
On the other hand, if the prosecution can establish that a Lexington, South Carolina taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most severe punishment that's permitted by law. This can easily involve jail time.
A Lexington, South Carolina Tax Evasion Lawyer Can Help
A Lexington, South Carolina attorney who specializes in tax law can help ensure that you are in compliance with all applicable tax laws, making an accusation of tax evasion less likely.
If the government truly charges you with tax evasion, it cannot be stressed enough that you need the assistance of a knowledgeable Lexington, South Carolina tax attorney. Assuming you're actually innocent, your tax lawyer can help you prepare a defense, and ensure that you have a good chance of being found not guilty. On top of that, they can make getting through such a difficult time much easier.