Tax Evasion Lawyers in Monroe
Tax Evasion in New York is a criminal act in which someone intentionally fails to pay their taxes.
There are a few strategies that tax evaders use in Monroe, New York. One of the most frequent tactics is to make it appear that the taxpayer has less taxable income than they actually do. There are a wide number of ways to hide income for the purpose of evading one's tax liability, but all of them are illegal.
"Tax evasion" should be distinguished from "tax avoidance." Tax evasion is the unlawful act of trying to hide one's tax liability. Tax avoidance, on the other hand, is perfectly legal, and simply involves utilizing the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Monroe, New York
Both federal law and the law of New York treat tax evasion as a severe criminal offense.
Tax evaders in Monroe can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of penalties available, with the ones just mentioned representing the most severe options available.
However, the punishments for tax evasion, particularly first offenses involving relatively small amounts of money, is not normally so severe, particularly when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.
On the other hand, if the prosecution can show that a Monroe, New York taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most grave punishment that's authorized by law. This can easily involve jail time.
A Monroe, New York Tax Evasion Lawyer Can Help
A tax attorney in Monroe, 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 clearly what one's tax liability is, and a tax attorney can help.
In the unfortunate event that you're really charged with tax evasion, it's essential that you hire a reliable tax attorney in Monroe, 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.