Tax Evasion in Amarillo, Texas

Find the right Tax Evasion attorney in Amarillo, TX

Tax Evasion Lawyers in Amarillo

In Texas, "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 Amarillo, Texas 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 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 Amarillo, Texas

Under federal and state law, including the laws of Texas, tax evasion is a very egregious crime.

Punishments for evading one's taxes in Amarillo range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and penalties in the hundreds of thousands of dollars.

However, the punishments for tax evasion, particularly first offenses involving relatively small amounts of money, is not typically so severe, particularly when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.

However, if it can be clearly proven that a person or corporation in Amarillo, Texas willfully 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 Amarillo, Texas Tax Evasion Lawyer Can Help

Attorneys in Amarillo, Texas 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 truly charged with tax evasion, it's important that you hire a knowledgeable tax attorney in Amarillo, Texas. 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.

Talk to a Tax Law Attorney now!

Life in Amarillo

Amarillo is the seat of Potter County and largest city in the Texas Panhandle with over 175,000 residents according to the 2000 Census. Known to most as the "yellow rose of Texas," Amarillo is also the self-proclaimed "helium capital of the world" because the United States' most productive helium fields are located in town. Amarillo was originally known throughout the United States as a capital for cattle trade.

The city's industry hasn't changed much, Amarillo is still the location where roughly 25% of the nation's beef supply is processed and is also home to the Texas Cattle Feeders Association. Tyson Foods is Amarillo's largest employer attesting to the meatpacking heritage of the city. Healthcare, the Amarillo Independent School District, and the City of Amarillo are other top employers. Bell Helicopter Textron operates and assembly plant in Amarillo which is responsible for the V-22 Osprey and Marine One assembly.

The Globe News Center for the Performing Arts in Amarillo houses the Amarillo Opera, Amarillo Symphony, and Lone Star Ballet in addition to concerts. For those who want the Texas Cowboy experience, Amarillo plays host to the Tri-State Fair and Rodeo as well as the World Championship Chuckwagon Roundup that is a food festival featuring staples cowboys and pioneers historically ate in the area. The World Championship Ranch Rodeo is put on by the Working Ranch Cowboys Association and attracts accomplished cowboys from around the world. There's even a weekly cattle auction that's free to the public named the Amarillo Livestock Auction. The American Quarter Horse Association and Hall of Fame is another internationally known Amarillo organization.

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