Tax Evasion Lawyers in Pequannock

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

Most frequently, people who try to evade their taxes in Pequannock, 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 utilizing the tax laws strategically, to reduce one's actual tax liability as much as possible.

Penalties for Tax Evasion in Pequannock, 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 Pequannock 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.

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 willful, as opposed to an honest mistake.

However, if it can be clearly proven that a person or corporation in Pequannock, New Jersey intentionally attempted to harbor income or assets for the purpose of getting out of taxes, a court will probably throw the book at them, so to speak. This can mean jail sentences measured in years, and fines in the six or seven figures.

A Pequannock, New Jersey Tax Evasion Lawyer Can Help

Tax lawyers in Pequannock, New Jersey can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.

If you find yourself truly accused of tax evasion, and are innocent, you should hire a Pequannock, New Jersey attorney with expertise 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.