Tax Evasion Lawyers in Grants

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 Grants, 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 Grants, New Mexico

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

Punishments for evading one's taxes in Grants 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.

However, if the relevant tax authorities are able to demonstrate that a taxpayer in Grants, New Mexico committed purposeful 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 Grants, New Mexico Tax Evasion Lawyer Can Help

Tax lawyers in Grants, 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.

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