Tax Evasion Lawyers in Colleyville
In Texas, "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 Colleyville, 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 familiar 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 Colleyville, Texas
Both federal law and the law of Texas treat tax evasion as a serious criminal offense.
The penalties for tax evasion in Colleyville can range anywhere from small fines to huge fines, along with prison sentences of several years.
In most cases, particularly 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 purposeful.
But, if the government can prove that a defendant in Colleyville, Texas knowingly 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 Colleyville, Texas Tax Evasion Lawyer Can Help
A tax attorney in Colleyville, Texas can ensure that you meet your tax liabilities, which will make an audit, or charge of tax evasion, less likely. Sometimes, it's difficult to determine exactly what one's tax liability is, and a tax attorney can help.
If you find yourself actually accused of tax evasion, and are innocent, you should hire a Colleyville, Texas attorney with experience 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.