Tax Evasion Lawyers in Wildwood Crest

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 Wildwood Crest, 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 Wildwood Crest, New Jersey

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

The penalties for tax evasion in Wildwood Crest 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 purposeful.

But if the government is able to definitively establish that a defendant in Wildwood Crest, 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 Wildwood Crest, New Jersey Tax Evasion Lawyer Can Help

A Wildwood Crest, 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 truly accused of tax evasion, you will need a Wildwood Crest, 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.