Tax Evasion Lawyers in Oxford
Tax Evasion in North Carolina is a criminal act in which someone intentionally fails to pay their taxes.
One of the most common frequent tactics of tax evaders in Oxford, 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 utilizing the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Oxford, 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 Oxford can range anywhere from small penalties to huge penalties, along with prison sentences of several years.
Usually, 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 show that a defendant in Oxford, 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 Oxford, North Carolina Tax Evasion Lawyer Can Help
An attorney in Oxford, 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.
Of course, if you've really been accused of tax evasion, you should retain an Oxford, North Carolina tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.