Tax Evasion Lawyers in Epsom
Tax Evasion in New Hampshire is a criminal act in which someone knowingly fails to pay their taxes.
One of the most common prevalent tactics of tax evaders in Epsom, New Hampshire 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.
You may also be familiar with the term "tax avoidance." It is critical that you don't confuse this with "tax evasion." Tax avoidance is perfectly legal, and is probably something that every taxpayer does whenever they file, whether they know it or not. It involves employing legal methods to make one's tax liability as small as possible, taking advantages of deductions and other tax breaks.
Penalties for Tax Evasion in Epsom, New Hampshire
The federal government and the laws of New Hampshire impose severe penalties for tax evasion - treating it as an extremely serious crime.
In Epsom, 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 normally 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 Epsom, New Hampshire knowingly attempted to harbor 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 Epsom, New Hampshire Tax Evasion Lawyer Can Help
Attorneys in Epsom, New Hampshire who practice tax law can help you stay in compliance with your tax obligations. This is a good way to ensure that you won't be suspected of tax evasion in the first place.
If the government truly charges you with tax evasion, it cannot be stressed enough that you need the assistance of a knowledgeable Epsom, New Hampshire 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.