Tax Evasion Lawyers in Nutley

Tax Evasion in New Jersey is a criminal act in which someone knowingly fails to pay their taxes.

Most frequently, people who try to evade their taxes in Nutley, New Jersey will take steps to harbor their assets and income, or transferring their property to other legal entities in a fraudulent manner.

"Tax evasion" should be distinguished from "tax avoidance." Tax evasion is the prohibited 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 Nutley, New Jersey

The federal government and the laws of New Jersey impose grave penalties for tax evasion - treating it as an extremely serious crime.

Punishments for evading one's taxes in Nutley 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.

In the majority of tax evasion cases, however, the punishments are not so severe. This is particularly likely in first offenses, when the amount of money involved is fairly small. Minor punishments for tax evasion normally mean a small fine, on top of an order to pay whatever taxes the taxpayer owes. A minor punishment is most likely when the government has trouble proving that fraud was involved, as opposed to an honest accounting error.

But, if the government can prove that a defendant in Nutley, New Jersey knowingly 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 Nutley, New Jersey Tax Evasion Lawyer Can Help

A tax attorney in Nutley, New Jersey can ensure that you meet your tax liabilities, which will make an audit, or charge of tax evasion, less likely. Sometimes, it's challenging to determine precisely what one's tax liability is, and a tax attorney can help.

If the government truly charges you with tax evasion, it cannot be stressed enough that you need the assistance of a reliable Nutley, New Jersey tax attorney. Assuming you're actually innocent, your tax lawyer can help you prepare a defense, and ensure that you have a good chance of being found not guilty. On top of that, they can make getting through such a difficult time much easier.