Tax Evasion Lawyers in Corinth
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 Corinth, 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 necessary 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 Corinth, Texas
Both federal law and the law of Texas treat tax evasion as a significant criminal offense.
Punishments for evading one's taxes in Corinth 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.
Normally, an initial offense of tax evasion, if the amount of tax evaded is comparatively small, will not result in jail time or massive fines. This is particularly the case if the government has trouble proving that the failure to pay taxes was the result of willful evasion, as opposed to an honest error in accounting.
But, if the government can prove that a defendant in Corinth, Texas willfully 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 Corinth, Texas Tax Evasion Lawyer Can Help
Attorneys in Corinth, 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.
However, if you're truly accused of tax evasion, you will need a Corinth, Texas 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.