Tax Evasion Lawyers in Asheboro

Tax Evasion in North Carolina is a criminal act in which someone purposely fails to pay their taxes.

Typically, tax evasion is accompanied by an attempt to make it appear to the government of Asheboro, North Carolina that one's tax liability is lower than it actually is. This can include concealing income, making fraudulent transfers of property, and other illegal activities.

You may also be familiar with the term "tax avoidance." It is crucial that you don't confuse this with "tax evasion." Tax avoidance is perfectly legal, and is probably something that every taxpayer does whenever they file, whether they know it or not. It involves employing legal methods to make one's tax liability as small as possible, taking advantages of deductions and other tax breaks.

Penalties for Tax Evasion in Asheboro, North Carolina

The federal government and the laws of North Carolina impose severe penalties for tax evasion - treating it as an extremely serious crime.

Punishments for evading one's taxes in Asheboro range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and fines in the hundreds of thousands of dollars.

Typically, a first offense of tax evasion, if the amount of tax evaded is relatively small, will not result in jail time or massive fines. This is especially the case if the government has trouble proving that the failure to pay taxes was the result of purposeful evasion, as opposed to an honest error in accounting.

However, if the relevant tax authorities are able to demonstrate that a taxpayer in Asheboro, North Carolina committed purposeful 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 Asheboro, North Carolina Tax Evasion Lawyer Can Help

An Asheboro, North Carolina 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.

If you find yourself actually accused of tax evasion, and are innocent, you should hire an Asheboro, North Carolina attorney with experience 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.