Tax fraud is defined as intentional deception made for personal benefits that, in turn, damages another person or entity. In simplest terms, tax fraud means cheating on a tax return in an attempt to avoid paying your taxes in full or at all. The “entity” you are damaging is usually the state, the country or the Internal Revenue Service. Filing your taxes can be stressful and confusing, but consequences of tax evasion and fraud are significant and will cost you your time, money and reputation.
Mark Catanzaro is the Mt. Holly tax fraud attorney who can help you build a strong defense if you are facing any sort of tax fraud charges. He has over 3 decades of experience and has a thorough knowledge of the tax fraud laws in New Jersey. He has tried over 100 cases to verdict including a number of capital murder cases. In this blog, Mr. Catanzaro will explain the various types of tax fraud recognized by the state of New Jersey and what the consequences are for each.
The Most Dependable Tax Fraud Attorney in Mt. Holly
When it comes to your taxes, paying the full amount owed within the appropriate timeframe is the best way to avoid any penalties. However, if you find yourself in a situation where you are facing charges, it is important to seek assistance from an experienced tax fraud attorney in Mt. Holly to help you get the best possible results.
Here are three common types of tax fraud crimes in New Jersey and the penalties for each:
1. Tax evasion – Tax evasion is a felony. If convicted you could face prison time of up to five years and a possible $100,000 fine.
2. Failing to file a tax return – Failure to file a tax return when you are legally required is a misdemeanor. Prison time can be as long as one year with up to a $25,000 fine.
3. Filing a false tax return – If the IRS can prove you purposefully filed a false tax return, you will be guilty of a felony and could face up to 3 years in prison and a fine of up to $100,000.
Other tax fraud crimes include attempting to defeat a tax law and willful failure to keep records.
Contact This Mt. Holly Tax Fraud Lawyer For Representation!
Each tax fraud case is unique, and understanding the law can be complicated. If you are facing any sort of tax fraud charges, call the #1 tax fraud attorney in Mt. Holly, Mark Catanzaro. He will listen closely to all your questions and take the time to answer them and work hard on your behalf. You can contact Mr. Catanzaro today by calling (609) 261-3400 or filling out a contact form.