Tax Evasion Lawyers in Big Spring

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 Big Spring, 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.

You may also be acquainted with the term "tax avoidance." It is critical that you don't confuse this with "tax evasion." Tax avoidance is perfectly legal, and is probably something that every taxpayer does whenever they file, whether they know it or not. It involves employing legal methods to make one's tax liability as small as possible, taking advantages of deductions and other tax breaks.

Penalties for Tax Evasion in Big Spring, Texas

Under the laws of Texas, as well as federal law, tax evasion is a very egregious criminal offense.

The penalties for tax evasion in Big Spring can range anywhere from small penalties to huge penalties, along with prison sentences of several years.

In most cases, especially when the amount of taxes evaded is small, and it's a first offense, the punishment will typically be fairly mild. It will typically 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 intentional.

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

A Big Spring, Texas attorney who concentrates in tax law can help ensure that you are in conformity with all applicable tax laws, making an accusation of tax evasion less likely.

If you find yourself truly accused of tax evasion, and are innocent, you should hire a Big Spring, Texas attorney with expertise practicing tax law, as soon as possible. Your tax attorney can help you defend yourself against the charges, ensuring that you have a good chance at being acquitted.