Tax Evasion Lawyers in Wyckoff

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 Wyckoff, 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 utilizing the tax laws strategically, to reduce one's actual tax liability as much as possible.

Penalties for Tax Evasion in Wyckoff, New Jersey

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

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

Normally, an initial offense of tax evasion, if the amount of tax evaded is comparatively small, will not result in jail time or massive fines. This is particularly the case if the government has trouble proving that the failure to pay taxes was the result of willful evasion, as opposed to an honest error in accounting.

However, if the relevant tax authorities are able to demonstrate that a taxpayer in Wyckoff, New Jersey committed willful fraud, in order to evade their legal duty to pay taxes, a tax court is probably going to impose a more severe penalty, which may include jail time, and large financial penalties.

A Wyckoff, New Jersey Tax Evasion Lawyer Can Help

A Wyckoff, New Jersey attorney who concentrates in tax law can help ensure that you are in conformity 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 Wyckoff, New Jersey attorney with expertise 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.