Tax Evasion Lawyers in Franklin
In Tennessee, "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 Franklin, Tennessee 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 not be confused with "tax avoidance." Tax evasion is the act of intentionally attempting to get out of one's tax liability through illegal means. Tax avoidance is perfectly legal, and involves utilizing legal strategies (such as taking advantage of deductions and tax credits) to reduce one's legal tax liability. However, someone engaging in tax avoidance typically intends to pay whatever they end up owing, even as they try to reduce the amount they owe.
Penalties for Tax Evasion in Franklin, Tennessee
Under the laws of Tennessee, as well as federal law, tax evasion is a very egregious criminal offense.
Tax evaders in Franklin can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of penalties available, with the ones just mentioned representing the most severe options available.
However, the punishments for tax evasion, particularly first offenses involving relatively small amounts of money, is not usually so severe, particularly when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.
But, if the government can prove that a defendant in Franklin, Tennessee intentionally 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 Franklin, Tennessee Tax Evasion Lawyer Can Help
Attorneys in Franklin, Tennessee who practice tax law can help you stay in conformity with your tax commitments. This is a good way to confirm that you won't be suspected of tax evasion in the first place.
In the unfortunate event that you're actually charged with tax evasion, it's essential that you hire a qualified tax attorney in Franklin, Tennessee. If you are actually innocent, your tax attorney can help make sure that you have the best chance you can of being found not guilty.