Tax Evasion Lawyers in Belen
Tax Evasion in New Mexico is a criminal act in which someone willfully fails to pay their taxes.
Most commonly, people who try to evade their taxes in Belen, New Mexico will take steps to hide 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 unlawful act of trying to hide one's tax liability. Tax avoidance, on the other hand, is perfectly legal, and simply involves utilizing the tax laws strategically, to reduce one's actual tax liability as much as possible.
Penalties for Tax Evasion in Belen, New Mexico
Under federal and state law, including the laws of New Mexico, tax evasion is a very egregious crime.
Punishments for evading one's taxes in Belen range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and penalties in the hundreds of thousands of dollars.
Most often, tax evasion - if it's a first offense and the tax liability is small - will not be cause for huge fines or imprisonment. This is particularly true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was intentional, as opposed to an honest mistake.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Belen, New Mexico committed intentional 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 Belen, New Mexico Tax Evasion Lawyer Can Help
Attorneys in Belen, New Mexico who practice tax law can help you stay in conformity with your tax commitments. This is a good way to confirm that you won't be suspected of tax evasion in the first place.
If the government really charges you with tax evasion, it cannot be stressed enough that you need the assistance of a seasoned Belen, New Mexico tax attorney. Assuming you're actually innocent, your tax lawyer can help you prepare a defense, and ensure that you have a good chance of being found not guilty. On top of that, they can make getting through such a difficult time much easier.