Tax Evasion Lawyers in New Providence

Tax Evasion in New Jersey is a criminal act in which someone knowingly fails to pay their taxes.

Most often, people who try to evade their taxes in New Providence, 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 New Providence, 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 New Providence 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.

Most often, tax evasion - if it's a first offense and the tax liability is small - will not be cause for huge fines or imprisonment. This is particularly true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was intentional, as opposed to an honest mistake.

However, if the relevant tax authorities are able to demonstrate that a taxpayer in New Providence, New Jersey committed intentional 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 New Providence, New Jersey Tax Evasion Lawyer Can Help

A tax attorney in New Providence, New Jersey can ensure that you meet your tax liabilities, which will make an audit, or charge of tax evasion, less likely. Sometimes, it's challenging to determine exactly what one's tax liability is, and a tax attorney can help.

If the government actually charges you with tax evasion, it cannot be stressed enough that you need the assistance of a reputable New Providence, 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.