Tax Evasion Lawyers in Jericho
Tax Evasion in New York is a criminal act in which someone willfully fails to pay their taxes.
Most commonly, people who try to evade their taxes in Jericho, New York will take steps to hide 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 necessary 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 Jericho, New York
The federal government and the laws of New York impose grave penalties for tax evasion - treating it as an extremely serious crime.
Punishments for evading one's taxes in Jericho range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and penalties in the hundreds of thousands of dollars.
Usually, an initial offense of tax evasion, if the amount of tax evaded is comparatively small, will not result in jail time or massive fines. This is particularly the case if the government has trouble proving that the failure to pay taxes was the result of willful evasion, as opposed to an honest error in accounting.
But, if the government can prove that a defendant in Jericho, New York willfully 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 Jericho, New York Tax Evasion Lawyer Can Help
Tax lawyers in Jericho, New York can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.
In the unfortunate event that you're really charged with tax evasion, it's important that you hire a reliable tax attorney in Jericho, 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.