Tax Evasion Lawyers in Fairmont
Tax evasion is a crime in West Virginia. Tax evasion involves willfully failing to pay one's taxes.
One of the most common common tactics of tax evaders in Fairmont, West Virginia is to attempt to make it appear to an outside observer that their tax liability is lower than it actually is, such as by concealing income, fraudulently transferring property, and others.
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 Fairmont, West Virginia
The laws of the federal government, as well as West Virginia take tax evasion very seriously, making it a crime.
In Fairmont, 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 usually 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 Fairmont, West Virginia willfully attempted to conceal 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 Fairmont, West Virginia Tax Evasion Lawyer Can Help
Tax lawyers in Fairmont, West Virginia can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.
In the unfortunate event that you're actually charged with tax evasion, it's important that you hire a qualified tax attorney in Fairmont, West Virginia. 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.