Tax Evasion Lawyers in South Bound Brook
Tax Evasion in New Jersey is a criminal act in which someone purposely fails to pay their taxes.
Most commonly, people who try to evade their taxes in South Bound Brook, 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 South Bound Brook, New Jersey
Under federal and state law, including the laws of New Jersey, tax evasion is a very severe crime.
In South Bound Brook, the punishments for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to fines in the tens (or hundreds) of thousands of dollars, and imprisonment.
However, the punishments for tax evasion, especially first offenses involving relatively small amounts of money, is not normally so severe, especially when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.
But if the government is able to definitively show that a defendant in South Bound Brook, New Jersey intentionally engaged in fraud to get out of paying taxes, a tax court is highly unlikely to show any leniency, and may well sentence the defendant to prison time.
A South Bound Brook, New Jersey Tax Evasion Lawyer Can Help
Attorneys in South Bound Brook, New Jersey who practice tax law can help you stay in compliance with your tax obligations. This is a good way to ensure that you won't be suspected of tax evasion in the first place.
Of course, if you've really been accused of tax evasion, you should retain a South Bound Brook, New Jersey tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.