Tax Evasion Lawyers in Wood Ridge

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

Most often, people who try to evade their taxes in Wood Ridge, 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 using the tax laws strategically, to reduce one's actual tax liability as much as possible.

Penalties for Tax Evasion in Wood Ridge, New Jersey

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

Punishments for evading one's taxes in Wood Ridge range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and fines in the hundreds of thousands of dollars.

Typically, a first offense of tax evasion, if the amount of tax evaded is relatively small, will not result in jail time or massive fines. This is especially the case if the government has trouble proving that the failure to pay taxes was the result of deliberate evasion, as opposed to an honest error in accounting.

But, if the government can prove that a defendant in Wood Ridge, New Jersey deliberately concealed income, in order to get out of paying taxes, a court will most likely impose the heaviest penalties allowed by law, including enormous fines, and several years in prison.

A Wood Ridge, New Jersey Tax Evasion Lawyer Can Help

An attorney in Wood Ridge, New Jersey specializing in tax law can help you comply with all the tax laws that apply to you, which makes it very unlikely that you'll ever be accused of tax evasion in the first place.

If you find yourself actually accused of tax evasion, and are innocent, you should hire a Wood Ridge, 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.