Tax Evasion Lawyers in Margate City
Tax Evasion in New Jersey is a criminal act in which someone purposely fails to pay their taxes.
Most commonly, people who try to evade their taxes in Margate City, 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 Margate City, 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 Margate City, 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 purposeful evasion, as opposed to an honest error in accounting.
But if the government is able to definitively show that a defendant in Margate City, New Jersey intentionally engaged in fraud to get out of paying taxes, a tax court is highly unlikely to show any leniency, and may well sentence the defendant to prison time.
A Margate City, New Jersey Tax Evasion Lawyer Can Help
An attorney in Margate City, 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.
However, if you're really accused of tax evasion, you will need a Margate City, 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.