Tax Evasion Lawyers in Woodbridge
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 Woodbridge, 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 Woodbridge, New Jersey
Under federal and state law, including the laws of New Jersey, tax evasion is a very severe crime.
Punishments for evading one's taxes in Woodbridge 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.
Normally, 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 purposeful evasion, as opposed to an honest error in accounting.
But, if the government can prove that a defendant in Woodbridge, New Jersey intentionally 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 Woodbridge, New Jersey Tax Evasion Lawyer Can Help
Attorneys in Woodbridge, 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.
However, if you're truly accused of tax evasion, you will need a Woodbridge, 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.