Tax Evasion Lawyers in Winston Salem
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 Winston Salem, 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 Winston Salem, North Carolina
Under federal and state law, including the laws of North Carolina, tax evasion is a very significant crime.
Punishments for evading one's taxes in Winston Salem 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.
Typically, 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.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Winston Salem, North Carolina committed willful fraud, in order to evade their legal duty to pay taxes, a tax court is probably going to impose a more severe penalty, which may include jail time, and large financial penalties.
A Winston Salem, North Carolina Tax Evasion Lawyer Can Help
Attorneys in Winston Salem, North Carolina who practice tax law can help you stay in conformity with your tax commitments. This is a good way to confirm that you won't be suspected of tax evasion in the first place.
If the government actually charges you with tax evasion, it cannot be stressed enough that you need the assistance of a reputable Winston Salem, North Carolina tax attorney. Assuming you're actually innocent, your tax lawyer can help you prepare a defense, and ensure that you have a good chance of being found not guilty. On top of that, they can make getting through such a difficult time much easier.