Tax Evasion Lawyers in Los Lunas
Tax Evasion in New Mexico is a criminal act in which someone deliberately fails to pay their taxes.
Most often, people who try to evade their taxes in Los Lunas, New Mexico will take steps to conceal 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 deliberately attempting to get out of one's tax liability through illegal 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 Los Lunas, 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 Los Lunas 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.
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 typically 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.
However, if the relevant tax authorities are able to demonstrate that a taxpayer in Los Lunas, 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 Los Lunas, New Mexico Tax Evasion Lawyer Can Help
A tax attorney in Los Lunas, 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 exactly what one's tax liability is, and a tax attorney can help.
If the government actually charges you with tax evasion, it cannot be stressed enough that you need the assistance of a good Los Lunas, 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.