Tax Evasion Lawyers in Hillsborough
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 Hillsborough, 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 Hillsborough, New Jersey
Both federal law and the law of New Jersey treat tax evasion as a serious criminal offense.
Tax evaders in Hillsborough can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of punishments available, with the ones just mentioned representing the most severe options available.
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 purposeful evasion, as opposed to an honest error in accounting.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Hillsborough, New Jersey committed purposeful 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 Hillsborough, New Jersey Tax Evasion Lawyer Can Help
Attorneys in Hillsborough, 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.
However, if you're actually accused of tax evasion, you will need a Hillsborough, New Jersey tax attorney more than ever. If you are, in fact, innocent, a tax attorney can give you the best possible chance of being found not guilty.