Tax Evasion Lawyers in Silver City
Tax Evasion in New Mexico is a criminal act in which someone purposely fails to pay their taxes.
Most often, people who try to evade their taxes in Silver City, 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 purposely attempting to get out of one's tax liability through illegal 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 Silver City, New Mexico
The federal government and the laws of New Mexico impose grave penalties for tax evasion - treating it as an extremely serious crime.
In Silver City, tax evasion can result in anything from a comparatively small fine, and a court order to pay any back taxes as well as interest, all the way up to financial penalties in the hundreds of thousands of dollars, as well as jail time.
In most cases, especially when the amount of taxes evaded is small, and it's a first offense, the punishment will usually be fairly mild. It will usually 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 intentional.
But if the government is able to definitively prove that a defendant in Silver City, New Mexico intentionally engaged in fraud to get out of paying taxes, a tax court is very unlikely to show any leniency, and may well sentence the defendant to prison time.
A Silver City, New Mexico Tax Evasion Lawyer Can Help
A tax attorney in Silver City, 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 challenging to determine exactly what one's tax liability is, and a tax attorney can help.
In the unfortunate event that you're actually charged with tax evasion, it's crucial that you hire a qualified tax attorney in Silver City, New Mexico. If you are actually innocent, your tax attorney can help make sure that you have the best chance you can of being found not guilty.