Tax Evasion Lawyers in Woodland Park
Tax Evasion in New Jersey is a criminal act in which someone willfully fails to pay their taxes.
Most frequently, people who try to evade their taxes in Woodland Park, 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 Woodland Park, 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 Woodland Park 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 Woodland Park, New Jersey willfully 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 Woodland Park, New Jersey Tax Evasion Lawyer Can Help
Tax lawyers in Woodland Park, New Jersey can help anyone from an individual to a big business pay their taxes more easily, and comply with federal and local tax laws.
In the unfortunate event that you're truly charged with tax evasion, it's important that you hire a knowledgeable tax attorney in Woodland Park, New Jersey. If you are actually innocent, your tax attorney can help make sure that you have the best chance you can of being found not guilty.