Tax Evasion Lawyers in Rocky Mount
Tax Evasion in North Carolina is a criminal act in which someone knowingly fails to pay their taxes.
One of the most common prevalent tactics of tax evaders in Rocky Mount, 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 using the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Rocky Mount, North Carolina
The laws of the federal government, as well as North Carolina take tax evasion quite seriously, making it a crime.
Tax evaders in Rocky Mount can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of punishments available, with the ones just mentioned representing the most severe options available.
Normally, a first offense of tax evasion, if the amount of tax evaded is relatively small, will not result in jail time or massive fines. This is especially the case if the government has trouble proving that the failure to pay taxes was the result of purposeful evasion, as opposed to an honest error in accounting.
On the other hand, if the prosecution can establish that a Rocky Mount, 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 permitted by law. This can easily involve jail time.
A Rocky Mount, North Carolina Tax Evasion Lawyer Can Help
Tax lawyers in Rocky Mount, North Carolina can help anyone from an individual to a big business pay their taxes more easily, and comply with federal and local tax laws.
However, if you're truly accused of tax evasion, you will need a Rocky Mount, North Carolina tax attorney more than ever. If you are, in fact, innocent, a tax attorney can give you the best possible chance of being found not guilty.