Tax Evasion Lawyers in Montclair
Tax Evasion in New Jersey is a criminal act in which someone purposely fails to pay their taxes.
Most often, people who try to evade their taxes in Montclair, New Jersey will take steps to conceal 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 illegal 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 Montclair, 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 Montclair, 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 the majority of tax evasion cases, however, the punishments are not so severe. This is particularly likely in first offenses, when the amount of money involved is fairly small. Minor punishments for tax evasion typically mean a small fine, on top of an order to pay whatever taxes the taxpayer owes. A minor punishment is most likely when the government has trouble proving that fraud was involved, as opposed to an honest accounting error.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Montclair, New Jersey committed willful 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 Montclair, New Jersey Tax Evasion Lawyer Can Help
Attorneys in Montclair, New Jersey who practice tax law can help you stay in conformity with your tax commitments. This is a good way to confirm that you won't be suspected of tax evasion in the first place.
However, if you're actually accused of tax evasion, you will need a Montclair, 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.