Tax Evasion Lawyers in Little Elm
In Texas, "tax evasion" is a crime that involves a willful failure to pay the taxes that the taxpayer legally owes.
There are a few strategies that tax evaders use in Little Elm, Texas. One of the most typical tactics is to make it appear that the taxpayer has less taxable income than they actually do. There are a wide variety of ways to harbor income for the purpose of evading one's tax liability, but all of them are illegal.
"Tax evasion" should be distinguished from "tax avoidance." Tax evasion is the prohibited act of trying to hide one's tax liability. Tax avoidance, on the other hand, is perfectly legal, and simply involves using the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Little Elm, Texas
The laws of the federal government, as well as Texas take tax evasion quite seriously, making it a crime.
In Little Elm, the punishments for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to fines in the tens (or hundreds) of thousands of dollars, and imprisonment.
However, the punishments for tax evasion, especially first offenses involving relatively small amounts of money, is not typically so severe, especially when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.
But if the government is able to definitively establish that a defendant in Little Elm, Texas intentionally engaged in fraud to get out of paying taxes, a tax court is highly unlikely to show any leniency, and may well sentence the defendant to prison time.
A Little Elm, Texas Tax Evasion Lawyer Can Help
A tax attorney in Little Elm, 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 precisely what one's tax liability is, and a tax attorney can help.
In the unfortunate event that you're truly charged with tax evasion, it's crucial that you hire a knowledgeable tax attorney in Little Elm, 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.