Tax Evasion Lawyers in Chapel Hill
Tax Evasion in North Carolina is a criminal act in which someone deliberately fails to pay their taxes.
Normally, tax evasion is accompanied by an attempt to make it appear to the government of Chapel Hill, 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 acquainted with the term "tax avoidance." It is important 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 Chapel Hill, North Carolina
The laws of the federal government, as well as North Carolina take tax evasion quite seriously, making it a crime.
In Chapel Hill, tax evasion can result in anything from a comparatively small fine, and a court order to pay any back taxes as well as interest, all the way up to financial penalties in the hundreds of thousands of dollars, as well as jail time.
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.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Chapel Hill, North Carolina committed willful 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 Chapel Hill, North Carolina Tax Evasion Lawyer Can Help
A tax attorney in Chapel Hill, North Carolina 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.
Of course, if you've truly been accused of tax evasion, you should hire a Chapel Hill, North Carolina tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.