Tax Evasion Lawyers in Verona

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 Verona, 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 utilizing the tax laws strategically, to reduce one's actual tax liability as much as possible.

Penalties for Tax Evasion in Verona, New Jersey

Under federal and state law, including the laws of New Jersey, tax evasion is a very egregious crime.

The penalties for tax evasion in Verona can range anywhere from small penalties to huge penalties, along with prison sentences of several years.

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 intentional, as opposed to an honest mistake.

However, if it can be clearly proven that a person or corporation in Verona, New Jersey knowingly attempted to conceal 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 Verona, New Jersey Tax Evasion Lawyer Can Help

Attorneys in Verona, New Jersey who practice tax law can help you stay in conformity with your tax commitments. This is a good way to confirm that you won't be suspected of tax evasion in the first place.

Of course, if you've actually been accused of tax evasion, you should contact a Verona, New Jersey tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.