What Are the Penalties for Tax Evasion in NJ?

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No matter how you make your living, you have to pay taxes. Filing tax returns can get quite complex, especially if you are a business owner or you have a variety of assets or income sources. This is why it is important to keep your finances in order. If you get charged with tax evasion, you could end up facing harsh penalties. You need to be able to show that there is a different explanation for the errors found by the IRS. A Monmouth County criminal defense attorney from our law firm can help with that.

When Would I Get Charged With Tax Evasion?

There are a few ways to get charged with tax evasion in New Jersey. Actions that commonly get flagged by the IRS include:

  • Not filing a yearly tax return
  • Reporting less income than you actually made
  • Overestimating how much you had in expenses or deductions

Taking any of these actions can obviously reduce your tax bill. Lie about your income or expenses and there is less for the IRS to tax. Avoid filing entirely and you do not end up paying any taxes owed.

What If I Just Made a Mistake on My Tax Return?

People can make mistakes, especially on long and complicated tax forms. If you made a simple mistake you are unlikely to face criminal charges. Usually, the error can be quickly fixed, and whatever extra state and federal tax you owe can be paid.

Can I Go to Jail for Tax Evasion?

Yes, it is actually possible to go to jail for tax evasion if your offenses are deemed egregious enough. Tax evasion is often charged as a misdemeanor, but even that charge can carry some harsh penalties with it. We are talking about a fine of up to $25,000 and a prison sentence lasting up to a year.

If you are charged with felony tax evasion, you could be looking at a fine of up to $100,000 and up to five years in jail. You need to do your best to fight these charges and show that you did not knowingly try to evade taxes.

Do I Need a Defense Attorney?

An experienced defense attorney can help you here. They can help you get organized and get all of your relevant paperwork together. Your attorney can also do the talking for you, reducing your odds of incriminating yourself. We will do everything that we can to fight for your constitutional rights and keep you out of prison,

Talk to Our Legal Team

If you are being charged with tax evasion, you need to take the matter seriously. Contact The Law Offices of George J. Mardinly and learn more about how we can help you defend yourself from these accusations. Schedule a consultation with our team today.