Tax Evasion Lawyers in West New York

Tax Evasion in New Jersey is a criminal act in which someone intentionally fails to pay their taxes.

Most frequently, people who try to evade their taxes in West New York, 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 using the tax laws strategically, to reduce one's actual tax liability as much as possible.

Penalties for Tax Evasion in West New York, New Jersey

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

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

In most cases, particularly 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 deliberate.

However, if it can be clearly proven that a person or corporation in West New York, New Jersey intentionally attempted to harbor 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 West New York, New Jersey Tax Evasion Lawyer Can Help

A West New York, 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.

If you find yourself truly accused of tax evasion, and are innocent, you should hire a West New York, 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.