Tax Evasion Lawyers in Eden
Tax Evasion in North Carolina is a criminal act in which someone deliberately fails to pay their taxes.
Typically, tax evasion is accompanied by an attempt to make it appear to the government of Eden, 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 Eden, North Carolina
The laws of the federal government, as well as North Carolina take tax evasion very seriously, making it a crime.
In Eden, the penalties for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to penalties in the tens (or hundreds) of thousands of dollars, and imprisonment.
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 typically 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.
On the other hand, if the prosecution can prove that an Eden, North Carolina taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most grave punishment that's allowed by law. This can easily involve jail time.
A Eden, North Carolina Tax Evasion Lawyer Can Help
A tax attorney in Eden, 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 exactly what one's tax liability is, and a tax attorney can help.
In the unfortunate event that you're actually charged with tax evasion, it's imperative that you hire a qualified tax attorney in Eden, North Carolina. If you are actually innocent, your tax attorney can help make sure that you have the best chance you can of being found not guilty.