What Are the Penalties for Tax Evasion in NJ?

tax forms and glasses

Tax evasion is not a crime that is taken lightly. If you are accused of evading taxes, you can end up facing harsh penalties and felony charges. If you believe that these charges are in error or that you simply made a mistake, you need to be ready to fight back. Hiring an experienced Bergen County, New Jersey criminal defense attorney should be your next step.

What is Considered Tax Evasion?

You can be accused of tax evasion by taking any action that results in you paying less of the taxes that you rightfully owe. A common method of doing this is underreporting income. If you make $100,000 but you tell the government that you made $60,000, that is going to be a problem. That is $40,000 worth of income that is not being taxed, and the IRS is going to find that out eventually and come after you with some considerable resources behind it.

You could also be committing a crime if you lie about your deductions. If you claim too many that you should not, it is the same as lying about your taxable income. You are just doing it in a more roundabout way. Finally, failing to file a tax return can also be considered tax evasion.

Will I Go to Prison if Convicted of Tax Evasion?

It is certainly possible to go to prison for tax evasion. Even a misdemeanor charge can result in a prison stay of up to one year and a fine of $25,000. If your tax evasion crimes are seen as more serious, you could end up getting charged $100,000 and your jail sentence could be as long as five years. The stakes are high here, and you need to be ready to fight back and show that they are mistaken.

How Can I Fight Tax Evasion Charges?

The best way to fight these charges is with an experienced defense attorney at your side. Your lawyer can:

  • Help you gather the documents and financial records you need
  • Handle communications on your behalf
  • Advise you on testimony and help you avoid making incriminating statements
  • Answering your questions about the legal process
  • Negotiating a lighter sentence if necessary

Whether you made a mistake or you got caught up in a business partner’s machinations, a seasoned lawyer from our firm can help you develop the right defensive strategy and protect your constitutional rights.

Contact Our Law Firm

So if you are facing tax evasion charges, do not try to defend yourself on your own. Take these charges seriously and contact the Law Office of E. Gregory M. Cannarozzi. We can schedule a consultation and tell you more about how an attorney can be of assistance.

Contact Us Today
  • This field is for validation purposes and should be left unchanged.