Tax Evasion Lawyers in Waterloo

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

There are a few strategies that tax evaders use in Waterloo, New York. One of the most common tactics is to make it appear that the taxpayer has less taxable income than they actually do. There are a wide variety of ways to conceal income for the purpose of evading one's tax liability, but all of them are illegal.

"Tax evasion" should not be confused with "tax avoidance." Tax evasion is the act of intentionally 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 Waterloo, New York

Under the laws of New York, as well as federal law, tax evasion is a very serious criminal offense.

Tax evaders in Waterloo can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of punishments available, with the ones just mentioned representing the most severe options available.

In most cases, particularly when the amount of taxes evaded is small, and it's a first offense, the punishment will usually be fairly mild. It will usually result in an order to pay the taxes the defendant owes, plus a small financial penalty. This is especially likely when it cannot be proven that the failure to pay taxes was deliberate.

However, if the relevant tax authorities are able to demonstrate that a taxpayer in Waterloo, New York committed deliberate fraud, in order to evade their legal duty to pay taxes, a tax court is probably going to impose a more severe penalty, which may include jail time, and large financial penalties.

A Waterloo, New York Tax Evasion Lawyer Can Help

A Waterloo, New York attorney who specializes in tax law can help ensure that you are in compliance with all applicable tax laws, making an accusation of tax evasion less likely.

However, if you're actually accused of tax evasion, you will need a Waterloo, New York 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.