Tax Evasion Lawyers in Newport

In Tennessee, "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 Newport, 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 willfully attempting to get out of one's tax liability through unlawful 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 Newport, Tennessee

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

Tax evaders in Newport 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.

Usually, an initial offense of tax evasion, if the amount of tax evaded is comparatively small, will not result in jail time or massive fines. This is particularly the case if the government has trouble proving that the failure to pay taxes was the result of intentional evasion, as opposed to an honest error in accounting.

On the other hand, if the prosecution can show that a Newport, Tennessee taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most grave punishment that's authorized by law. This can easily involve jail time.

A Newport, Tennessee Tax Evasion Lawyer Can Help

Tax lawyers in Newport, Tennessee can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.

However, if you're really accused of tax evasion, you will need a Newport, 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.