Tax Evasion Lawyers in Alamogordo
Tax Evasion in New Mexico is a criminal act in which someone knowingly fails to pay their taxes.
Most frequently, people who try to evade their taxes in Alamogordo, New Mexico will take steps to harbor their assets and income, or transferring their property to other legal entities in a fraudulent manner.
"Tax evasion" should be distinguished from "tax avoidance." Tax evasion is the prohibited act of trying to hide one's tax liability. Tax avoidance, on the other hand, is perfectly legal, and simply involves using the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Alamogordo, New Mexico
Under federal and state law, including the laws of New Mexico, tax evasion is a very serious crime.
Punishments for evading one's taxes in Alamogordo range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and fines in the hundreds of thousands of dollars.
Normally, a first offense of tax evasion, if the amount of tax evaded is relatively small, will not result in jail time or massive fines. This is especially the case if the government has trouble proving that the failure to pay taxes was the result of deliberate evasion, as opposed to an honest error in accounting.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Alamogordo, New Mexico committed deliberate fraud, in order to evade their legal duty to pay taxes, a tax court is probably going to impose a more severe penalty, which may include jail time, and large financial penalties.
A Alamogordo, New Mexico Tax Evasion Lawyer Can Help
Tax lawyers in Alamogordo, New Mexico can help anyone from an individual to a big business pay their taxes more easily, and comply with federal and local tax laws.
Of course, if you've truly been accused of tax evasion, you should hire a Alamogordo, New Mexico tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.