Tax Evasion Lawyers in Breckenridge
In Texas, "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 Breckenridge, 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 essential 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 Breckenridge, Texas
Under the laws of Texas, as well as federal law, tax evasion is a very significant criminal offense.
Punishments for evading one's taxes in Breckenridge 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.
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 the relevant tax authorities are able to demonstrate that a taxpayer in Breckenridge, Texas committed willful fraud, in order to evade their legal duty to pay taxes, a tax court is probably going to impose a more severe penalty, which may include jail time, and large financial penalties.
A Breckenridge, Texas Tax Evasion Lawyer Can Help
Tax lawyers in Breckenridge, Texas 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 really been accused of tax evasion, you should retain a Breckenridge, Texas tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.