Tax Evasion Lawyers in Colts Neck

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

Most often, people who try to evade their taxes in Colts Neck, New Jersey will take steps to conceal their assets and income, or transferring their property to other legal entities in a fraudulent manner.

"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 using the tax laws strategically, to reduce one's actual tax liability as much as possible.

Penalties for Tax Evasion in Colts Neck, New Jersey

Both federal law and the law of New Jersey treat tax evasion as a serious criminal offense.

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

Typically, 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 deliberate evasion, as opposed to an honest error in accounting.

But if the government is able to definitively prove that a defendant in Colts Neck, New Jersey intentionally engaged in fraud to get out of paying taxes, a tax court is highly unlikely to show any leniency, and may well sentence the defendant to prison time.

A Colts Neck, New Jersey Tax Evasion Lawyer Can Help

An attorney in Colts Neck, New Jersey specializing in tax law can help you comply 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.

If you find yourself actually accused of tax evasion, and are innocent, you should hire a Colts Neck, New Jersey attorney with experience practicing tax law, as soon as possible. Your tax attorney can help you defend yourself against the charges, ensuring that you have a good chance at being acquitted.