Tax Evasion Lawyers in Elizabeth City
Tax Evasion in North Carolina is a criminal act in which someone purposely fails to pay their taxes.
Normally, tax evasion is accompanied by an attempt to make it appear to the government of Elizabeth City, 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 Elizabeth City, North Carolina
The laws of the federal government, as well as North Carolina take tax evasion quite seriously, making it a crime.
In Elizabeth City, the punishments for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to fines 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 especially 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.
On the other hand, if the prosecution can establish that an Elizabeth City, North Carolina taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most severe punishment that's permitted by law. This can easily involve jail time.
A Elizabeth City, North Carolina Tax Evasion Lawyer Can Help
An attorney in Elizabeth City, 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.
However, if you're truly accused of tax evasion, you will need an Elizabeth City, North Carolina 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.