Tax Evasion Lawyers in Randolph
Tax Evasion in New Jersey is a criminal act in which someone knowingly fails to pay their taxes.
Most often, people who try to evade their taxes in Randolph, 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 using the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Randolph, 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 Randolph 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 usually be fairly mild. It will usually 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.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Randolph, New Jersey committed purposeful 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 Randolph, New Jersey Tax Evasion Lawyer Can Help
A Randolph, New Jersey attorney who specializes in tax law can help ensure that you are in compliance with all applicable tax laws, making an accusation of tax evasion less likely.
However, if you're actually accused of tax evasion, you will need a Randolph, New Jersey tax attorney more than ever. If you are, in fact, innocent, a tax attorney can give you the best possible chance of being found not guilty.