Tax Evasion Lawyers in Buffalo
Tax Evasion in New York is a criminal act in which someone purposely fails to pay their taxes.
Most commonly, people who try to evade their taxes in Buffalo, New York will take steps to hide 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 unlawful 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 Buffalo, New York
Under federal and state law, including the laws of New York, tax evasion is a very serious crime.
Punishments for evading one's taxes in Buffalo 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.
However, the punishments for tax evasion, especially first offenses involving relatively small amounts of money, is not normally so severe, especially when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.
However, if it can be clearly proven that a person or corporation in Buffalo, New York purposely attempted to hide 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 Buffalo, New York Tax Evasion Lawyer Can Help
A Buffalo, New York attorney who specializes in tax law can help ensure that you are in compliance with all applicable tax laws, making an accusation of tax evasion less likely.
If the government really charges you with tax evasion, it cannot be stressed enough that you need the assistance of a brilliant Buffalo, New York tax attorney. Assuming you're actually innocent, your tax lawyer can help you prepare a defense, and ensure that you have a good chance of being found not guilty. On top of that, they can make getting through such a difficult time much easier.