Tax Evasion Lawyers in Alfred
Tax Evasion in New York is a criminal act in which someone purposely fails to pay their taxes.
Most often, people who try to evade their taxes in Alfred, 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 purposely attempting to get out of one's tax liability through illegal means. Tax avoidance is perfectly legal, and involves utilizing 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 Alfred, New York
Under federal and state law, including the laws of New York, tax evasion is a very egregious crime.
In Alfred, tax evasion can result in anything from a comparatively 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.
However, the punishments for tax evasion, particularly first offenses involving relatively small amounts of money, is not usually so severe, particularly when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.
But, if the government can prove that a defendant in Alfred, New York purposely 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 Alfred, New York Tax Evasion Lawyer Can Help
A tax attorney in Alfred, 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 challenging to determine exactly what one's tax liability is, and a tax attorney can help.
In the unfortunate event that you're actually charged with tax evasion, it's crucial that you hire a qualified tax attorney in Alfred, New York. 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.