Tax Evasion Lawyers in Tucumcari

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

Most often, people who try to evade their taxes in Tucumcari, 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 knowingly 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 Tucumcari, New Mexico

The federal government and the laws of New Mexico impose severe penalties for tax evasion - treating it as an extremely serious crime.

In Tucumcari, tax evasion can result in anything from a relatively 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 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.

On the other hand, if the prosecution can prove that a Tucumcari, New Mexico taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most severe punishment that's allowed by law. This can easily involve jail time.

A Tucumcari, New Mexico Tax Evasion Lawyer Can Help

A tax attorney in Tucumcari, 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 Tucumcari, 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.