Tax Evasion Lawyers in Holly Springs

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 Holly Springs, 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 Holly Springs, North Carolina

The federal government and the laws of North Carolina impose grave penalties for tax evasion - treating it as an extremely serious crime.

Punishments for evading one's taxes in Holly Springs range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and penalties in the hundreds of thousands of dollars.

Normally, an initial offense of tax evasion, if the amount of tax evaded is comparatively small, will not result in jail time or massive fines. This is particularly the case if the government has trouble proving that the failure to pay taxes was the result of willful evasion, as opposed to an honest error in accounting.

But if the government is able to definitively establish that a defendant in Holly Springs, North Carolina intentionally engaged in fraud to get out of paying taxes, a tax court is very unlikely to show any leniency, and may well sentence the defendant to prison time.

A Holly Springs, North Carolina Tax Evasion Lawyer Can Help

A Holly Springs, 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.

If you find yourself truly accused of tax evasion, and are innocent, you should hire a Holly Springs, North Carolina attorney with expertise practicing tax law, as soon as possible. Your tax attorney can help you defend yourself against the charges, ensuring that you have a good chance at being acquitted.