Tax Evasion Lawyers in Fuquay Varina
Tax Evasion in North Carolina is a criminal act in which someone intentionally fails to pay their taxes.
Usually, tax evasion is accompanied by an attempt to make it appear to the government of Fuquay Varina, 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 essential 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 Fuquay Varina, North Carolina
The laws of the federal government, as well as North Carolina take tax evasion extremely seriously, making it a crime.
The penalties for tax evasion in Fuquay Varina can range anywhere from small penalties to huge penalties, along with prison sentences of several years.
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 usually 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 it can be clearly proven that a person or corporation in Fuquay Varina, North Carolina intentionally 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 Fuquay Varina, North Carolina Tax Evasion Lawyer Can Help
A Fuquay Varina, North Carolina attorney who concentrates in tax law can help ensure that you are in conformity with all applicable tax laws, making an accusation of tax evasion less likely.
In the unfortunate event that you're really charged with tax evasion, it's essential that you hire a reliable tax attorney in Fuquay Varina, 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.