Tax Evasion Lawyers in Raton
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 Raton, 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 not be confused with "tax avoidance." Tax evasion is the act of intentionally attempting to get out of one's tax liability through unlawful means. Tax avoidance is perfectly legal, and involves utilizing 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 Raton, New Mexico
Under the laws of New Mexico, as well as federal law, tax evasion is a very significant criminal offense.
Tax evaders in Raton can be punished by multi-year prison sentences, as well as six-figure fines. Of course, there is a wide range of penalties available, with the ones just mentioned representing the most severe options available.
In most cases, especially when the amount of taxes evaded is small, and it's a first offense, the punishment will normally be fairly mild. It will normally result in an order to pay the taxes the defendant owes, plus a small financial penalty. This is especially likely when it cannot be proven that the failure to pay taxes was willful.
But, if the government can prove that a defendant in Raton, 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 Raton, New Mexico Tax Evasion Lawyer Can Help
An attorney in Raton, New Mexico specializing in tax law can help you adhere with all the tax laws that apply to you, which makes it very unlikely that you'll ever be accused of tax evasion in the first place.
If you find yourself really accused of tax evasion, and are innocent, you should hire a Raton, New Mexico attorney with expertise 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.