Tax Evasion Lawyers in Hempstead
Tax Evasion in New York is a criminal act in which someone knowingly fails to pay their taxes.
Most frequently, people who try to evade their taxes in Hempstead, New York will take steps to harbor their assets and income, or transferring their property to other legal entities in a fraudulent manner.
You may also be familiar with the term "tax avoidance." It is critical that you don't confuse this with "tax evasion." Tax avoidance is perfectly legal, and is probably something that every taxpayer does whenever they file, whether they know it or not. It involves employing legal methods to make one's tax liability as small as possible, taking advantages of deductions and other tax breaks.
Penalties for Tax Evasion in Hempstead, New York
The federal government and the laws of New York impose severe penalties for tax evasion - treating it as an extremely serious crime.
In Hempstead, 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.
In the majority of tax evasion cases, however, the punishments are not so severe. This is especially likely in first offenses, when the amount of money involved is fairly small. Minor punishments for tax evasion normally mean a small fine, on top of an order to pay whatever taxes the taxpayer owes. A minor punishment is most likely when the government has trouble proving that fraud was involved, as opposed to an honest accounting error.
But, if the government can prove that a defendant in Hempstead, New York knowingly 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 Hempstead, New York Tax Evasion Lawyer Can Help
A tax attorney in Hempstead, 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 precisely what one's tax liability is, and a tax attorney can help.
In the unfortunate event that you're truly charged with tax evasion, it's critical that you hire a knowledgeable tax attorney in Hempstead, 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.