Tax Evasion Lawyers in Schenectady
Tax Evasion in New York is a criminal act in which someone purposely fails to pay their taxes.
There are a few strategies that tax evaders use in Schenectady, New York. One of the most typical 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 harbor 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 prohibited 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 Schenectady, New York
The laws of the federal government, as well as New York take tax evasion quite seriously, making it a crime.
Tax evaders in Schenectady 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.
Most often, tax evasion - if it's a first offense and the tax liability is small - will not be cause for huge fines or imprisonment. This is especially true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was deliberate, as opposed to an honest mistake.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Schenectady, New York committed deliberate fraud, in order to evade their legal duty to pay taxes, a tax court is probably going to impose a more severe penalty, which may include jail time, and large financial penalties.
A Schenectady, New York Tax Evasion Lawyer Can Help
Attorneys in Schenectady, New York who practice tax law can help you stay in compliance with your tax obligations. This is a good way to ensure that you won't be suspected of tax evasion in the first place.
However, if you're truly accused of tax evasion, you will need a Schenectady, 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.