Tax Evasion Lawyers in Magnolia

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

Most commonly, people who try to evade their taxes in Magnolia, New Jersey will take steps to hide 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 unlawful 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 Magnolia, New Jersey

The federal government and the laws of New Jersey impose severe penalties for tax evasion - treating it as an extremely serious crime.

In Magnolia, the punishments for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to fines in the tens (or hundreds) of thousands of dollars, and imprisonment.

Usually, 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.

However, if the relevant tax authorities are able to demonstrate that a taxpayer in Magnolia, New Jersey committed deliberate 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 Magnolia, New Jersey Tax Evasion Lawyer Can Help

Tax lawyers in Magnolia, New Jersey can help anyone from an individual to a big business pay their taxes more easily, and comply with federal and local tax laws.

However, if you're really accused of tax evasion, you will need a Magnolia, 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.