Newark Tax Fraud Lawyer

Newark Tax Fraud Attorney

Allegations of tax fraud in Newark are prosecuted harshly, as they often involve large amounts of money and deceitful financial and business practices. However, filing taxes in New Jersey can be challenging for anyone with little legal experience, creating the potential for human errors that may look like fraud. Regardless of why you’re facing tax fraud allegations, it’s crucial that you hire a Newark tax fraud lawyer who can help you protect your rights, finances, and freedom.

Tim Anderson Law: Your Newark Tax Fraud Team

When you’re accused of tax fraud in New Jersey, do not wait to seek legal assistance from an experienced defense lawyer. The team at Tim Anderson Law shares a deep understanding of state and federal tax laws as well as insight into local courts and how they operate, allowing us to provide aggressive representation tailored to the unique details of your case. When you’re facing tax fraud charges in Newark, you can trust the team at Tim Anderson Law to fight for you. Schedule your consultation today.

Understanding What Tax Fraud Is in New Jersey

Tax fraud occurs in New Jersey when an individual or business intentionally provides false information to the IRS or state tax agencies to avoid paying taxes. Unlike simple mistakes or miscalculations, tax fraud requires willful intent, meaning the individual who acted did so purposefully.  In 2022, the IRS reported an estimated tax liability of $4.635 trillion due to fraud cases across the country.

Common tax fraud cases seen in New Jersey include:

• Under-Reporting Income. This occurs when a person or business fails to report all sources of income, such as cash earnings, tips, regular business or personal earnings and side business earnings.
• Failing to File a Tax Return. Intentionally not filing returns to avoid tax obligations in New Jersey is illegal.
• Claiming False Deductions or Exemptions. Claiming false or exaggerated deductions, such as on charitable contributions, medical expenses, or business write-offs is also a form of tax fraud.
• Hiding Assets in Offshore Accounts. This may look like moving money offshore, using shell corporations, or concealing property ownership, to avoid listing them on tax returns.
• Payroll Tax Fraud. Misclassifying employees as contractors or under-reporting payroll to avoid paying Social Security and Medicare taxes is another form of fraud commonly seen in New Jersey.

Just because you’re accused of tax fraud in Newark does not automatically mean you’re guilty. No matter how complex your tax fraud case may be, do not wait to hire a tax fraud lawyer who can fight for your rights. The tax fraud team at Tim Anderson Law can investigate your situation, challenge the prosecution’s evidence, and build a powerful defense tailored to your case.

Common Red Flags That Tax Agencies Look for in New Jersey

In 2023, the IRS collected over $4.6 trillion in taxes, fees, interest, and penalties. The IRS and state tax authorities use sophisticated tools and data analysis to detect fraud. Some red flags that can trigger an audit or potential fraud charges may include:

• Unusually high deductions compared to reported income
• Consistent discrepancies between reported earnings and lifestyle
• Use of false Social Security numbers or business entities
• Repeated late or missing tax filings
• Failure to report cryptocurrency or cash transactions
• Offshore accounts are not disclosed under the Foreign Account Tax Compliance Act.

Potential Penalties for Tax Fraud in New Jersey

The penalties for tax fraud in New Jersey are severe and vary depending on the scope of your case. It’s important to note that tax fraud cases in New Jersey can be filed at the state or federal level. When you face federal tax fraud charges, you can expect your case to be more complex and come with heftier potential penalties. Factors that may impact the severity of your charges include the type of fraud that occurred, whether you acted as a business or individual, and perhaps most importantly, the total alleged amount of tax loss.

Potential penalties that come with a tax fraud conviction in New Jersey can include:

• Fines ranging in severity
• Jail or prison time
• Asset seizure and forteiture
• Restitution orders
• Career, employment, and housing consequences

Having an experienced Newark tax fraud lawyer can mean the difference between serving time in prison and negotiating a more favorable settlement or even negotiating non-prosecution.

Hire a Tax Fraud Lawyer Experienced in Newark tax fraud cases

When accused of tax fraud in Newark, you need an experienced legal advocate on your side who knows how to navigate complex tax laws and protect your rights. At Tim Anderson Law, our skilled legal team has the knowledge, resources, and experience needed to help Newark residents and others successfully combat tax fraud charges. We understand how daunting it is to face tax violations in New Jersey and are prepared to evaluate your case and work with you to protect your future.

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Choose Tim Anderson Law

When you’re facing potential tax fraud charges in Newark, don’t wait to hire an experienced lawyer who can help protect you and your future. Contact Tim Anderson Law today to schedule a consultation and fight the charges against you.