"Real Housewives of New Jersey" star Teresa Giudice doesn't look fazed by the possibility of a massive looming prison sentence -- in fact, she was all smiles with her daughter on Tuesday ... and she looked damn good too.

As we reported, Giudice and her husband Joe each face up to 30 years in the big house for bank fraud, tax evasion, and more -- after officials say the couple defrauded the IRS and multiple banks from 2001-2008.

The couple surrendered to authorities just hours ago, and have each been released on $500,000 bond. They're due back in court August 14.

Happy summer!!!