Tax Evasion Lawyers in East Rutherford
Tax Evasion in New Jersey is a criminal act in which someone knowingly fails to pay their taxes.
Most often, people who try to evade their taxes in East Rutherford, 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 East Rutherford, 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 East Rutherford 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 typically 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 East Rutherford, New Jersey knowingly attempted to conceal 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 East Rutherford, New Jersey Tax Evasion Lawyer Can Help
An attorney in East Rutherford, 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 an East Rutherford, 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.