Tax Evasion Lawyers in Paterson
Tax Evasion in New Jersey is a criminal act in which someone purposely fails to pay their taxes.
Most frequently, people who try to evade their taxes in Paterson, 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 Paterson, 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 Paterson 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 purposeful evasion, as opposed to an honest error in accounting.
On the other hand, if the prosecution can establish that a Paterson, New Jersey taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most severe punishment that's permitted by law. This can easily involve jail time.
A Paterson, New Jersey Tax Evasion Lawyer Can Help
Tax lawyers in Paterson, 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.
Of course, if you've truly been accused of tax evasion, you should hire a Paterson, New Jersey tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.