Tax Evasion Lawyers in Mahwah
Tax Evasion in New Jersey is a criminal act in which someone intentionally fails to pay their taxes.
Most frequently, people who try to evade their taxes in Mahwah, 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 Mahwah, 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 Mahwah, 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.
Normally, 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 Mahwah, 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 Mahwah, New Jersey Tax Evasion Lawyer Can Help
Tax lawyers in Mahwah, 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.
Of course, if you've truly been accused of tax evasion, you should hire a Mahwah, New Jersey tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.