Tax Evasion Lawyers in Hot Springs

In South Dakota, "tax evasion" is a crime that involves a purposeful failure to pay the taxes that the taxpayer legally owes.

Usually, the strategy employed by tax evaders in Hot Springs, South Dakota 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 unlawful 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 Hot Springs, South Dakota

The laws of the federal government, as well as South Dakota take tax evasion extremely seriously, making it a crime.

Tax evaders in Hot Springs can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of punishments available, with the ones just mentioned representing the most severe options available.

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 especially true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was deliberate, as opposed to an honest mistake.

However, if the relevant tax authorities are able to demonstrate that a taxpayer in Hot Springs, South Dakota committed deliberate 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 Hot Springs, South Dakota Tax Evasion Lawyer Can Help

Tax lawyers in Hot Springs, South Dakota can help anyone from an individual to a big business pay their taxes more easily, and comply with federal and local tax laws.

If you find yourself really accused of tax evasion, and are innocent, you should hire a Hot Springs, South Dakota attorney with experience 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.