Tax Evasion Lawyers in Monsey
Tax Evasion in New York is a criminal act in which someone knowingly fails to pay their taxes.
There are a few strategies that tax evaders use in Monsey, New York. One of the most common tactics is to make it appear that the taxpayer has less taxable income than they actually do. There are a wide variety of ways to conceal 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 illegal act of trying to hide one's tax liability. Tax avoidance, on the other hand, is perfectly legal, and simply involves using the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Monsey, New York
Both federal law and the law of New York treat tax evasion as a serious criminal offense.
Tax evaders in Monsey can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of punishments available, with the ones just mentioned representing the most severe options available.
However, the punishments for tax evasion, especially first offenses involving relatively small amounts of money, is not usually so severe, especially 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 prove that a Monsey, New York taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most severe punishment that's allowed by law. This can easily involve jail time.
A Monsey, New York Tax Evasion Lawyer Can Help
A Monsey, 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.
However, if you're actually accused of tax evasion, you will need a Monsey, New York tax attorney more than ever. If you are, in fact, innocent, a tax attorney can give you the best possible chance of being found not guilty.