Tax Evasion Lawyers in Sidney
Tax Evasion in New York is a criminal act in which someone deliberately fails to pay their taxes.
There are a few strategies that tax evaders use in Sidney, 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 number of ways to harbor income for the purpose of evading one's tax liability, but all of them are illegal.
"Tax evasion" should not be confused with "tax avoidance." Tax evasion is the act of deliberately attempting to get out of one's tax liability through prohibited means. Tax avoidance is perfectly legal, and involves utilizing legal strategies (such as taking advantage of deductions and tax credits) to reduce one's legal tax liability. However, someone engaging in tax avoidance typically intends to pay whatever they end up owing, even as they try to reduce the amount they owe.
Penalties for Tax Evasion in Sidney, New York
Under the laws of New York, as well as federal law, tax evasion is a very significant criminal offense.
The penalties for tax evasion in Sidney can range anywhere from small penalties to huge penalties, along with prison sentences of several years.
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 particularly true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was willful, as opposed to an honest mistake.
On the other hand, if the prosecution can establish that a Sidney, 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 permitted by law. This can easily involve jail time.
A Sidney, New York Tax Evasion Lawyer Can Help
A tax attorney in Sidney, 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 precisely what one's tax liability is, and a tax attorney can help.
Of course, if you've truly been accused of tax evasion, you should hire a Sidney, New York tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.