Tax Evasion Lawyers in Signal Mountain
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 Signal Mountain, 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 Signal Mountain, Tennessee
Under federal and state law, including the laws of Tennessee, tax evasion is a very significant crime.
In Signal Mountain, tax evasion can result in anything from a comparatively 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.
In most cases, especially when the amount of taxes evaded is small, and it's a first offense, the punishment will usually be fairly mild. It will usually result in an order to pay the taxes the defendant owes, plus a small financial penalty. This is especially likely when it cannot be proven that the failure to pay taxes was willful.
But, if the government can prove that a defendant in Signal Mountain, 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 Signal Mountain, Tennessee Tax Evasion Lawyer Can Help
Tax lawyers in Signal Mountain, 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 actually accused of tax evasion, you will need a Signal Mountain, 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.