Tax Evasion Lawyers in Binghamton
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 Binghamton, 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 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 Binghamton, New York
Under federal and state law, including the laws of New York, tax evasion is a very severe crime.
The penalties for tax evasion in Binghamton can range anywhere from small fines to huge fines, along with prison sentences of several years.
In most cases, particularly when the amount of taxes evaded is small, and it's a first offense, the punishment will usually be fairly mild. It will usually result in an order to pay the taxes the defendant owes, plus a small financial penalty. This is especially likely when it cannot be proven that the failure to pay taxes was purposeful.
However, if it can be clearly proven that a person or corporation in Binghamton, New York purposely attempted to conceal income or assets for the purpose of getting out of taxes, a court will probably throw the book at them, so to speak. This can mean jail sentences measured in years, and fines in the six or seven figures.
A Binghamton, New York Tax Evasion Lawyer Can Help
Tax lawyers in Binghamton, New York 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 actually charged with tax evasion, it's crucial that you hire a qualified tax attorney in Binghamton, 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.