Tax Evasion Lawyers in Espanola

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

Most frequently, people who try to evade their taxes in Espanola, 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 not be confused with "tax avoidance." Tax evasion is the act of intentionally attempting to get out of one's tax liability through prohibited means. Tax avoidance is perfectly legal, and involves using legal strategies (such as taking advantage of deductions and tax credits) to reduce one's legal tax liability. However, someone engaging in tax avoidance typically intends to pay whatever they end up owing, even as they try to reduce the amount they owe.

Penalties for Tax Evasion in Espanola, New Mexico

Under the laws of New Mexico, as well as federal law, tax evasion is a very serious criminal offense.

The penalties for tax evasion in Espanola can range anywhere from small fines to huge fines, along with prison sentences of several years.

In the majority of tax evasion cases, however, the punishments are not so severe. This is especially likely in first offenses, when the amount of money involved is fairly small. Minor punishments for tax evasion normally mean a small fine, on top of an order to pay whatever taxes the taxpayer owes. A minor punishment is most likely when the government has trouble proving that fraud was involved, as opposed to an honest accounting error.

But, if the government can prove that a defendant in Espanola, New Mexico intentionally concealed income, in order to get out of paying taxes, a court will most likely impose the heaviest penalties allowed by law, including enormous fines, and several years in prison.

A Espanola, New Mexico Tax Evasion Lawyer Can Help

A tax attorney in Espanola, 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 precisely what one's tax liability is, and a tax attorney can help.

If you find yourself truly accused of tax evasion, and are innocent, you should hire an Espanola, 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.