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What Are the Penalties for Tax Evasion in Iowa?

They say the only certain things in life are death and taxes, but there is one more certainty. If you try to commit tax evasion, the penalties are going to be harsh. If you have been charged with tax evasion, you need to figure out how you are going to defend yourself. You should consult a Des Moines white collar crime lawyer and figure out your next steps.

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What Actions Are Considered Tax Evasion?

There are a few different actions that can qualify as tax evasion. You can be charged if it is suspected that you did any of the following:

  • Underreported your income
  • Neglected to file a tax return
  • Prepared and filed a false return
  • Made false claims regarding your taxes in any way

Essentially, if you do anything that makes it look like you are trying to avoid giving the government money that it is owed, you could run into legal trouble.

Can You Go to Jail for Tax Evasion in Iowa?

You can actually go to jail for tax evasion in some cases. It often depends on the record of the defendant and how much money is involved, but it is not uncommon for people to be sentenced to prison terms lasting between one and five years. If you were not taking these charges seriously before, this should catch your attention.

Are There Other Punishments for Tax Evasion?

Prison time is not the only potential punishment for someone who gets convicted of tax evasion. The other types of penalties are mostly financial in nature. You could be charged a fine of up to $100,000 if convicted on federal charges. You could also end up paying more when you are forced to pay your tax debt thanks to a state rule. In Iowa, if you do not file a return or if you file a false return in an attempt to evade a tax, you will have to pay an additional 75%. So if you owed $200,000 and filed a false return, you could end up owing $350,000 before you are hit with other fines and penalties.

Do I Need a Criminal Defense Lawyer?

An experienced criminal defense lawyer with experience handling white collar crimes can help you with your case. They can help you organize the needed financial documents and defend yourself from accusations of wrongdoing. An attorney can also help if a plea deal needs to be negotiated. A lawyer can be a significant expense, but when you are looking at potential fines of up to $100,000 we think that our law firm is a worthy investment.

Contact Our Law Firm Today

If you are facing tax evasion charges, you do not have to go it alone. Contact Herting Law, PLLC and schedule a consultation. We would love to tell you more about how our legal team could assist you in this difficult time.

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