Tax Evasion Lawyers in Maryville
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 Maryville, 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 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 Maryville, Tennessee
The laws of the federal government, as well as Tennessee take tax evasion quite seriously, making it a crime.
The penalties for tax evasion in Maryville can range anywhere from small penalties to huge penalties, along with prison sentences of several years.
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 particularly true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was willful, as opposed to an honest mistake.
However, if it can be clearly proven that a person or corporation in Maryville, Tennessee knowingly attempted to harbor income or assets for the purpose of getting out of taxes, a court will probably throw the book at them, so to speak. This can mean jail sentences measured in years, and fines in the six or seven figures.
A Maryville, Tennessee Tax Evasion Lawyer Can Help
Tax lawyers in Maryville, Tennessee can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.
Of course, if you've truly been accused of tax evasion, you should hire a Maryville, Tennessee tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.