Tax Evasion Lawyers in Palmhurst
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 Palmhurst, 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 not be confused with "tax avoidance." Tax evasion is the act of intentionally attempting to get out of one's tax liability through prohibited means. Tax avoidance is perfectly legal, and involves using legal strategies (such as taking advantage of deductions and tax credits) to reduce one's legal tax liability. However, someone engaging in tax avoidance typically intends to pay whatever they end up owing, even as they try to reduce the amount they owe.
Penalties for Tax Evasion in Palmhurst, Texas
Under the laws of Texas, as well as federal law, tax evasion is a very serious criminal offense.
Tax evaders in Palmhurst can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of punishments available, with the ones just mentioned representing the most severe options available.
In most cases, particularly 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 deliberate.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Palmhurst, Texas committed deliberate 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 Palmhurst, Texas Tax Evasion Lawyer Can Help
A tax attorney in Palmhurst, 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.
If you find yourself truly accused of tax evasion, and are innocent, you should hire a Palmhurst, 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.