Tax Evasion Lawyers in Oconomowoc
Tax evasion is a crime in Wisconsin. Tax evasion involves willfully failing to pay one's taxes.
One of the most common frequent tactics of tax evaders in Oconomowoc, Wisconsin is to attempt to make it appear to an outside observer that their tax liability is lower than it really is, such as by concealing income, fraudulently transferring property, and others.
"Tax evasion" should be distinguished from "tax avoidance." Tax evasion is the unlawful act of trying to hide one's tax liability. Tax avoidance, on the other hand, is perfectly legal, and simply involves utilizing the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Oconomowoc, Wisconsin
Under federal and state law, including the laws of Wisconsin, tax evasion is a very egregious crime.
In Oconomowoc, the penalties for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to penalties in the tens (or hundreds) of thousands of dollars, and imprisonment.
However, the punishments for tax evasion, particularly first offenses involving relatively small amounts of money, is not normally so severe, particularly when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.
However, if it can be clearly proven that a person or corporation in Oconomowoc, Wisconsin willfully 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 Oconomowoc, Wisconsin Tax Evasion Lawyer Can Help
An Oconomowoc, Wisconsin attorney who concentrates in tax law can help ensure that you are in conformity with all applicable tax laws, making an accusation of tax evasion less likely.
If you find yourself really accused of tax evasion, and are innocent, you should hire an Oconomowoc, Wisconsin 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.