Tax Evasion Lawyers in Bloomfield

Tax Evasion in New Mexico is a criminal act in which someone intentionally fails to pay their taxes.

Most commonly, people who try to evade their taxes in Bloomfield, 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 using the tax laws strategically, to reduce one's actual tax liability as much as possible.

Penalties for Tax Evasion in Bloomfield, New Mexico

Under federal and state law, including the laws of New Mexico, tax evasion is a very severe crime.

Punishments for evading one's taxes in Bloomfield 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.

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 especially true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was purposeful, as opposed to an honest mistake.

But if the government is able to definitively show that a defendant in Bloomfield, New Mexico intentionally engaged in fraud to get out of paying taxes, a tax court is highly unlikely to show any leniency, and may well sentence the defendant to prison time.

A Bloomfield, New Mexico Tax Evasion Lawyer Can Help

A tax attorney in Bloomfield, New Mexico can ensure that you meet your tax liabilities, which will make an audit, or charge of tax evasion, less likely. Sometimes, it's difficult to determine clearly what one's tax liability is, and a tax attorney can help.

If you find yourself really accused of tax evasion, and are innocent, you should hire a Bloomfield, New Mexico attorney with experience practicing tax law, as soon as possible. Your tax attorney can help you defend yourself against the charges, ensuring that you have a good chance at being acquitted.