Tax Evasion Lawyers in Jamesburg

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

Most frequently, people who try to evade their taxes in Jamesburg, New Jersey will take steps to harbor 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 prohibited 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 Jamesburg, New Jersey

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

Tax evaders in Jamesburg 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.

However, the punishments for tax evasion, especially first offenses involving relatively small amounts of money, is not typically so severe, especially when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.

However, if it can be clearly proven that a person or corporation in Jamesburg, New Jersey 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 Jamesburg, New Jersey Tax Evasion Lawyer Can Help

Attorneys in Jamesburg, 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.

In the unfortunate event that you're truly charged with tax evasion, it's critical that you hire a knowledgeable tax attorney in Jamesburg, New Jersey. If you are actually innocent, your tax attorney can help make sure that you have the best chance you can of being found not guilty.