Tax Evasion Lawyers in Temple
In Texas, "tax evasion" is a crime that involves a purposeful failure to pay the taxes that the taxpayer legally owes.
There are a few strategies that tax evaders use in Temple, Texas. One of the most frequent 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 hide income for the purpose of evading one's tax liability, but all of them are illegal.
You should not confuse "tax evasion" with "tax avoidance." Tax evasion is illegal, and involves deliberately failing to pay one's taxes which they lawfully owe. Tax avoidance, on the other hand, is legal, and involves utilizing legal strategies to lower one's legal tax liability. For example, strategically using deductions and tax credits to lower the amount of money you are legally obliged to pay, is an example of tax avoidance, assuming you actually pay your tax bill, whatever it ends up being.
Penalties for Tax Evasion in Temple, Texas
Under the laws of Texas, as well as federal law, tax evasion is a very significant criminal offense.
Punishments for evading one's taxes in Temple 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.
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.
However, if it can be clearly proven that a person or corporation in Temple, Texas purposely attempted to hide income or assets for the purpose of getting out of taxes, a court will probably throw the book at them, so to speak. This can mean jail sentences measured in years, and fines in the six or seven figures.
A Temple, Texas Tax Evasion Lawyer Can Help
Attorneys in Temple, 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.
Of course, if you've really been accused of tax evasion, you should retain a Temple, Texas tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.