Tax Evasion Lawyers in Albany
Tax Evasion in New York is a criminal act in which someone knowingly fails to pay their taxes.
Most often, people who try to evade their taxes in Albany, New York will take steps to conceal their assets and income, or transferring their property to other legal entities in a fraudulent manner.
"Tax evasion" should not be confused with "tax avoidance." Tax evasion is the act of knowingly attempting to get out of one's tax liability through illegal means. Tax avoidance is perfectly legal, and involves using legal strategies (such as taking advantage of deductions and tax credits) to reduce one's legal tax liability. However, someone engaging in tax avoidance typically intends to pay whatever they end up owing, even as they try to reduce the amount they owe.
Penalties for Tax Evasion in Albany, New York
Under federal and state law, including the laws of New York, tax evasion is a very serious crime.
In Albany, tax evasion can result in anything from a relatively small fine, and a court order to pay any back taxes as well as interest, all the way up to financial penalties in the hundreds of thousands of dollars, as well as jail time.
Most often, tax evasion - if it's a first offense and the tax liability is small - will not be cause for huge fines or imprisonment. This is especially true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was deliberate, as opposed to an honest mistake.
But if the government is able to definitively prove that a defendant in Albany, New York 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 Albany, New York Tax Evasion Lawyer Can Help
A tax attorney in Albany, New York can ensure that you meet your tax liabilities, which will make an audit, or charge of tax evasion, less likely. Sometimes, it's difficult to determine exactly what one's tax liability is, and a tax attorney can help.
Of course, if you've actually been accused of tax evasion, you should contact an Albany, New York tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.