Tax evasion is known as a white collar crime and it comes with its own set of serious legal consequences. If you work with taxes in any capacity – whether as an accountant, a business manager or owner, or even as an employee – you could find yourself on the receiving end of tax fraud charge.
Tax law is notorious for its many inherent complications and intricacies, and the bright line between right and wrong is not always so bright when it comes to taxes. Nevertheless, it’s extremely important that you remain vigilant in your efforts to stay on the right side of that line.
Tax Avoidance vs. Tax Evasion
It’s important to remember that while tax avoidance is perfectly legal, tax evasion is not. Tax avoidance amounts to all of those legal loopholes and incentives that the federal government offers us by way of our taxes. You can even legitimately get a bit creative with your taxes as long as you remain within the letter of the tax law. Avoid all you’d like; no one – including the government – expects you to pay a penny more than that amount that you minimally owe.
Tax evasion is another thing entirely. Tax evasion goes a step beyond avoidance and enters the territory of fraud because it includes actions that purposely deprive the government of income that you rightfully owe. Many people who work crunching numbers can begin to lose track of exactly what is and isn’t appropriate when it comes to taxes. It can be relatively easy to inadvertently cross the line into fraudulent activity, and sometimes decisions made in haste or with little attention paid to them can lead to tax fraud. Tax evasion is a felony and if you are convicted, you can face up to 5 years in prison and incur a fine of up to $100,000. Whatever the cause, it’s imperative that you obtain legal counsel if you are being charged with tax fraud of any kind. Tax law is complicated; help is available.
If You’ve Been Accused of Tax Fraud, Call 973-686-9787 today for more information
If you’ve been accused of tax fraud, do not hesitate to contact the Law Offices of David W. Polsky today. David has decades of experience as a white-collar criminal defense lawyer and is committed to fighting for your legal rights. We’re here to help, so give us a call at 973-686-9787 or contact us online.