Tax Evasion Lawyers in Park Ridge
Tax Evasion in New Jersey is a criminal act in which someone deliberately fails to pay their taxes.
Most often, people who try to evade their taxes in Park Ridge, 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 Park Ridge, New Jersey
The federal government and the laws of New Jersey impose grave penalties for tax evasion - treating it as an extremely serious crime.
Tax evaders in Park Ridge can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of penalties available, with the ones just mentioned representing the most severe options available.
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.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Park Ridge, 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 Park Ridge, New Jersey Tax Evasion Lawyer Can Help
A Park Ridge, New Jersey attorney who concentrates in tax law can help ensure that you are in conformity with all applicable tax laws, making an accusation of tax evasion less likely.
If the government actually charges you with tax evasion, it cannot be stressed enough that you need the assistance of a reputable Park Ridge, 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.