Tax Evasion Lawyers in Newark
Tax Evasion in New Jersey is a criminal act in which someone knowingly fails to pay their taxes.
Most commonly, people who try to evade their taxes in Newark, 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 Newark, New Jersey
The federal government and the laws of New Jersey impose severe penalties for tax evasion - treating it as an extremely serious crime.
Punishments for evading one's taxes in Newark range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and fines 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 especially true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was purposeful, as opposed to an honest mistake.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Newark, New Jersey committed purposeful 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 Newark, New Jersey Tax Evasion Lawyer Can Help
Tax lawyers in Newark, New Jersey can help anyone from an individual to a big business pay their taxes more easily, and comply with federal and local tax laws.
However, if you're really accused of tax evasion, you will need a Newark, 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.