Tax Evasion Lawyers in Midland Park
Tax Evasion in New Jersey is a criminal act in which someone willfully fails to pay their taxes.
Most commonly, people who try to evade their taxes in Midland Park, 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 utilizing the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Midland Park, New Jersey
The federal government and the laws of New Jersey impose grave penalties for tax evasion - treating it as an extremely serious crime.
In Midland Park, the penalties for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to penalties in the tens (or hundreds) of thousands of dollars, and imprisonment.
In most cases, especially when the amount of taxes evaded is small, and it's a first offense, the punishment will normally be fairly mild. It will normally result in an order to pay the taxes the defendant owes, plus a small financial penalty. This is especially likely when it cannot be proven that the failure to pay taxes was willful.
But if the government is able to definitively show that a defendant in Midland Park, New Jersey intentionally engaged in fraud to get out of paying taxes, a tax court is very unlikely to show any leniency, and may well sentence the defendant to prison time.
A Midland Park, New Jersey Tax Evasion Lawyer Can Help
An attorney in Midland Park, New Jersey specializing in tax law can help you adhere 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.
Of course, if you've really been accused of tax evasion, you should retain a Midland Park, New Jersey tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.