Tax Evasion Lawyers in Greensboro
Tax Evasion in North Carolina is a criminal act in which someone purposely fails to pay their taxes.
One of the most common prevalent tactics of tax evaders in Greensboro, North Carolina is to attempt to make it appear to an outside observer that their tax liability is lower than it truly is, such as by concealing income, fraudulently transferring property, and others.
"Tax evasion" should be distinguished from "tax avoidance." Tax evasion is the prohibited act of trying to hide one's tax liability. Tax avoidance, on the other hand, is perfectly legal, and simply involves utilizing the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Greensboro, North Carolina
The federal government and the laws of North Carolina impose grave penalties for tax evasion - treating it as an extremely serious crime.
In Greensboro, 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 most cases, especially when the amount of taxes evaded is small, and it's a first offense, the punishment will typically be fairly mild. It will typically result in an order to pay the taxes the defendant owes, plus a small financial penalty. This is especially likely when it cannot be proven that the failure to pay taxes was willful.
However, if it can be clearly proven that a person or corporation in Greensboro, North Carolina purposely attempted to harbor 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 Greensboro, North Carolina Tax Evasion Lawyer Can Help
Tax lawyers in Greensboro, North Carolina can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.
Of course, if you've truly been accused of tax evasion, you should hire a Greensboro, North Carolina tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.