Tax Evasion Lawyers in Prospect Park

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 Prospect Park, 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 Prospect 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 Prospect 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.

In most cases, particularly when the amount of taxes evaded is small, and it's a first offense, the punishment will normally be fairly mild. It will normally result in an order to pay the taxes the defendant owes, plus a small financial penalty. This is especially likely when it cannot be proven that the failure to pay taxes was purposeful.

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

An attorney in Prospect Park, New Jersey specializing in tax law can help you comply with all the tax laws that apply to you, which makes it very unlikely that you'll ever be accused of tax evasion in the first place.

If you find yourself really accused of tax evasion, and are innocent, you should hire a Prospect 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.