Tax Evasion Lawyers in Palisades Park

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

Most frequently, people who try to evade their taxes in Palisades Park, New Jersey will take steps to harbor 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 prohibited 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 Palisades Park, New Jersey

The federal government and the laws of New Jersey impose severe penalties for tax evasion - treating it as an extremely serious crime.

Tax evaders in Palisades Park can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of punishments available, with the ones just mentioned representing the most severe options available.

Normally, a first offense of tax evasion, if the amount of tax evaded is relatively small, will not result in jail time or massive fines. This is especially the case if the government has trouble proving that the failure to pay taxes was the result of deliberate evasion, as opposed to an honest error in accounting.

But, if the government can prove that a defendant in Palisades Park, New Jersey deliberately 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 Palisades Park, New Jersey Tax Evasion Lawyer Can Help

Tax lawyers in Palisades Park, 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.

If you find yourself truly accused of tax evasion, and are innocent, you should hire a Palisades Park, New Jersey attorney with experience practicing tax law, as soon as possible. Your tax attorney can help you defend yourself against the charges, ensuring that you have a good chance at being acquitted.