Tax Evasion Lawyers in Huntingdon
In Tennessee, "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 Huntingdon, 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 knowingly attempting to get out of one's tax liability through prohibited means. Tax avoidance is perfectly legal, and involves using 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 Huntingdon, Tennessee
The laws of the federal government, as well as Tennessee take tax evasion quite seriously, making it a crime.
In Huntingdon, tax evasion can result in anything from a relatively small fine, and a court order to pay any back taxes as well as interest, all the way up to financial penalties in the hundreds of thousands of dollars, as well as jail time.
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 purposeful, as opposed to an honest mistake.
But if the government is able to definitively establish that a defendant in Huntingdon, Tennessee intentionally engaged in fraud to get out of paying taxes, a tax court is highly unlikely to show any leniency, and may well sentence the defendant to prison time.
A Huntingdon, Tennessee Tax Evasion Lawyer Can Help
Attorneys in Huntingdon, Tennessee who practice tax law can help you stay in compliance with your tax obligations. This is a good way to ensure that you won't be suspected of tax evasion in the first place.
However, if you're truly accused of tax evasion, you will need a Huntingdon, Tennessee tax attorney more than ever. If you are, in fact, innocent, a tax attorney can give you the best possible chance of being found not guilty.