Tax Evasion Lawyers in Newton
Tax Evasion in North Carolina is a criminal act in which someone willfully fails to pay their taxes.
One of the most common frequent tactics of tax evaders in Newton, North Carolina is to attempt to make it appear to an outside observer that their tax liability is lower than it really is, such as by concealing income, fraudulently transferring property, and others.
"Tax evasion" should be distinguished from "tax avoidance." Tax evasion is the unlawful act of trying to hide one's tax liability. Tax avoidance, on the other hand, is perfectly legal, and simply involves using the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Newton, North Carolina
The laws of the federal government, as well as North Carolina take tax evasion extremely seriously, making it a crime.
In Newton, 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 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.
On the other hand, if the prosecution can show that a Newton, 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 authorized by law. This can easily involve jail time.
A Newton, North Carolina Tax Evasion Lawyer Can Help
A Newton, North Carolina attorney who specializes in tax law can help ensure that you are in compliance 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 important that you hire a reliable tax attorney in Newton, 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.