Tax Evasion Lawyers in Norfolk
Tax evasion is a crime in Virginia. Tax evasion involves purposely failing to pay one's taxes.
Typically, tax evasion is accompanied by an attempt to make it appear to the government of Norfolk, Virginia that one's tax liability is lower than it actually is. This can include concealing income, making fraudulent transfers of property, and other illegal activities.
"Tax evasion" should not be confused with "tax avoidance." Tax evasion is the act of purposely attempting to get out of one's tax liability through illegal 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 Norfolk, Virginia
Under federal and state law, including the laws of Virginia, tax evasion is a very serious crime.
Punishments for evading one's taxes in Norfolk range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and fines in the hundreds of thousands of dollars.
However, the punishments for tax evasion, especially first offenses involving relatively small amounts of money, is not usually 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 can prove that a defendant in Norfolk, Virginia purposely concealed income, in order to get out of paying taxes, a court will most likely impose the heaviest penalties allowed by law, including enormous fines, and several years in prison.
A Norfolk, Virginia Tax Evasion Lawyer Can Help
Attorneys in Norfolk, Virginia who practice tax law can help you stay in compliance with your tax obligations. This is a good way to ensure that you won't be suspected of tax evasion in the first place.
However, if you're actually accused of tax evasion, you will need a Norfolk, Virginia tax attorney more than ever. If you are, in fact, innocent, a tax attorney can give you the best possible chance of being found not guilty.