Tax Evasion Lawyers in Ayden
Tax Evasion in North Carolina is a criminal act in which someone purposely fails to pay their taxes.
Usually, tax evasion is accompanied by an attempt to make it appear to the government of Ayden, 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 Ayden, 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 Ayden 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.
Most often, tax evasion - if it's a first offense and the tax liability is small - will not be cause for huge fines or imprisonment. This is especially true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was purposeful, as opposed to an honest mistake.
However, if it can be clearly proven that a person or corporation in Ayden, North Carolina purposely attempted to hide 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 Ayden, North Carolina Tax Evasion Lawyer Can Help
An attorney in Ayden, North Carolina specializing in tax law can help you comply with all the tax laws that apply to you, which makes it very unlikely that you'll ever be accused of tax evasion in the first place.
Of course, if you've really been accused of tax evasion, you should retain an Ayden, North Carolina tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.