Tax Evasion Lawyers in The Colony
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 The Colony, 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.
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 The Colony, 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 The Colony 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 the relevant tax authorities are able to demonstrate that a taxpayer in The Colony, Texas committed willful 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 The Colony, Texas Tax Evasion Lawyer Can Help
Tax lawyers in The Colony, Texas can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.
If you find yourself truly accused of tax evasion, and are innocent, you should hire a The Colony, Texas attorney with expertise 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.