Best Tax Attorneys in Camden

Frequently Asked Questions

• Where does the Tax Court hold trial sessions closest to Camden, New Jersey?

  The Tax Court is primarily based in Washington, D.C., but its judges also travel across the country to conduct trials at specific locations. The closest tax court to Camden is at the Richard J. Hughes Justice Complex, 25 Market Street, Trenton, New Jersey 08625. The court is located 35.6 miles away from Camden, and driving there may take 39 minutes via I-95 S, depending on traffic conditions.

• Where is the low-income taxpayer clinic that is closest to Camden, New Jersey?

  Low-income residents of Camden who need tax law assistance may get in touch with South Jersey Legal Services, Inc. LITC through these phone numbers: 800-496-4570 and 856-964-2010.

• If found guilty, what are the penalties for tax evasion cases in Camden?

  If convicted, individuals may face severe penalties, including imprisonment for up to five years and a fine of up to $100,000. Note that tax evasion is a serious offense in Camden and the rest of New Jersey. It involves intentionally using unlawful means to conceal money or falsify financial information in order to avoid paying taxes and evade tax laws.

• What are the sanctions given if a Camden resident fails to file a tax return?

  As a misdemeanor, failure to file a tax return in Camden is punishable by a maximum of one year in prison and a $25,000 fine for each year of noncompliance. However, criminal charges can only be brought against someone for not filing a tax return if it has been more than six years since the deadline. Submitting a tax return for any of the last six years is strongly encouraged before the IRS comes a-knocking.

• What activities are considered tax fraud in Camden?

  In Camden, tax fraud charges can arise from various circumstances, including not filing state or federal income tax returns, engaging in tax preparer fraud, submitting fraudulent tax returns, deliberately failing to report or underreporting income on tax returns, and misrepresenting personal expenses as business expenses. It may also include evading taxes by forming or dissolving business entities, committing payroll and employment tax fraud, as well as maintaining inaccurate tax records or refusing to retain records altogether.

• Is there a legal time limit for business tax audits in Camden?

  In Camden, tax audits for businesses are generally limited to four years under New Jersey Tax Laws. After this time, the New Jersey Division of Taxation cannot audit your business without your written permission. The legal time limit does not apply if a taxpayer did not file a return, failed to report Federal changes, or filed a false or fraudulent return to evade tax.

• What are the consequences of ignoring an IRS tax audit for a person in Camden?

  If you disregard an IRS tax audit, consequences may include the IRS removing deductions, adding income, and reducing credits from your tax return. The IRS may also issue a statutory notice of deficiency, otherwise known as a 90-day letter. This means you have 90 days to submit a petition to the US Tax Court. If you hold off, the IRS will finish the audit and collect your taxes; you'll lose your opportunity to appeal.