Tax Evasion Lawyers in Readington
Tax Evasion in New Jersey is a criminal act in which someone knowingly fails to pay their taxes.
Most frequently, people who try to evade their taxes in Readington, 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 Readington, 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 Readington 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.
In most cases, especially when the amount of taxes evaded is small, and it's a first offense, the punishment will typically be fairly mild. It will typically 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 willful.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Readington, New Jersey committed willful 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 Readington, New Jersey Tax Evasion Lawyer Can Help
Tax lawyers in Readington, 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.
Of course, if you've truly been accused of tax evasion, you should hire a Readington, New Jersey tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.