Tax Evasion Lawyers in Cape May

Tax Evasion in New Jersey is a criminal act in which someone willfully fails to pay their taxes.

One of the most common prevalent tactics of tax evaders in Cape May, New Jersey 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 necessary 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 Cape May, New Jersey

The laws of the federal government, as well as New Jersey take tax evasion quite seriously, making it a crime.

The penalties for tax evasion in Cape May can range anywhere from small fines to huge fines, along with prison sentences of several years.

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 Cape May, New Jersey willfully 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 Cape May, New Jersey Tax Evasion Lawyer Can Help

Attorneys in Cape May, New Jersey 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.

Of course, if you've truly been accused of tax evasion, you should hire a Cape May, New Jersey tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.