Tax Evasion Lawyers in Smith County
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 Smith County, 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 number 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 willfully attempting to get out of one's tax liability through prohibited means. Tax avoidance is perfectly legal, and involves utilizing 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 Smith County, Texas
The laws of the federal government, as well as Texas take tax evasion quite seriously, making it a crime.
Tax evaders in Smith County can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of penalties available, with the ones just mentioned representing the most severe options available.
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.
On the other hand, if the prosecution can establish that a Smith County, Texas taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most grave punishment that's permitted by law. This can easily involve jail time.
A Smith County, Texas Tax Evasion Lawyer Can Help
A tax attorney in Smith County, Texas can ensure that you meet your tax liabilities, which will make an audit, or charge of tax evasion, less likely. Sometimes, it's challenging 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 important that you hire a knowledgeable tax attorney in Smith County, 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.