Tax Evasion Lawyers in Vermillion

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

Typically, the strategy employed by tax evaders in Vermillion, 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 illegal 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 Vermillion, South Dakota

Under federal and state law, including the laws of South Dakota, tax evasion is a very severe crime.

Punishments for evading one's taxes in Vermillion range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and fines in the hundreds of thousands of dollars.

Typically, 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 purposeful evasion, as opposed to an honest error in accounting.

But, if the government can prove that a defendant in Vermillion, South Dakota knowingly concealed income, in order to get out of paying taxes, a court will most likely impose the heaviest penalties allowed by law, including enormous fines, and several years in prison.

A Vermillion, South Dakota Tax Evasion Lawyer Can Help

An attorney in Vermillion, South Dakota specializing in tax law can help you comply with all the tax laws that apply to you, which makes it very unlikely that you'll ever be accused of tax evasion in the first place.

If you find yourself actually accused of tax evasion, and are innocent, you should hire a Vermillion, 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.