Tax Evasion Lawyers in Kill Devil Hills

Tax Evasion in North Carolina is a criminal act in which someone knowingly fails to pay their taxes.

One of the most common common tactics of tax evaders in Kill Devil Hills, North Carolina is to attempt to make it appear to an outside observer that their tax liability is lower than it actually is, such as by concealing income, fraudulently transferring property, and others.

"Tax evasion" should be distinguished from "tax avoidance." Tax evasion is the illegal 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 Kill Devil Hills, 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 Kill Devil Hills 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.

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.

However, if it can be clearly proven that a person or corporation in Kill Devil Hills, North Carolina knowingly attempted to conceal 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 Kill Devil Hills, North Carolina Tax Evasion Lawyer Can Help

An attorney in Kill Devil Hills, North Carolina specializing in tax law can help you adhere 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.

If you find yourself actually accused of tax evasion, and are innocent, you should hire a Kill Devil Hills, 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.