Tax Evasion Lawyers in Mount Holly
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 Mount Holly, 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 Mount Holly, New Jersey
The federal government and the laws of New Jersey impose grave penalties for tax evasion - treating it as an extremely serious crime.
Punishments for evading one's taxes in Mount Holly range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and penalties in the hundreds of thousands of dollars.
Typically, an initial offense of tax evasion, if the amount of tax evaded is comparatively small, will not result in jail time or massive fines. This is particularly the case if the government has trouble proving that the failure to pay taxes was the result of intentional evasion, as opposed to an honest error in accounting.
But, if the government can prove that a defendant in Mount Holly, New Jersey purposely concealed income, in order to get out of paying taxes, a court will most likely impose the heaviest penalties allowed by law, including enormous fines, and several years in prison.
A Mount Holly, New Jersey Tax Evasion Lawyer Can Help
An attorney in Mount Holly, 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.
If the government actually charges you with tax evasion, it cannot be stressed enough that you need the assistance of a reputable Mount Holly, New Jersey tax attorney. Assuming you're actually innocent, your tax lawyer can help you prepare a defense, and ensure that you have a good chance of being found not guilty. On top of that, they can make getting through such a difficult time much easier.