Tax Evasion Lawyers in Hyde Park
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 Hyde Park, New York will take steps to conceal their assets and income, or transferring their property to other legal entities in a fraudulent manner.
You may also be acquainted 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 Hyde Park, New York
The federal government and the laws of New York impose grave penalties for tax evasion - treating it as an extremely serious crime.
In Hyde Park, the penalties for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to penalties in the tens (or hundreds) of thousands of dollars, and imprisonment.
In most cases, especially 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 willful.
But if the government is able to definitively prove that a defendant in Hyde Park, New York intentionally engaged in fraud to get out of paying taxes, a tax court is very unlikely to show any leniency, and may well sentence the defendant to prison time.
A Hyde Park, New York Tax Evasion Lawyer Can Help
A tax attorney in Hyde Park, 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.
Of course, if you've actually been accused of tax evasion, you should contact a Hyde Park, New York tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.