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New Mexico Tax Attorney

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Falling at rapid speeds, an inability to run, a frantic car case these are the terrifying visuals that manifest in our nightmares; however, just for a second, imagine this: A perusal of New Mexico's government website reveals your name and address next to a six-figure tax bill. Further investigation reveals that the tax bill is legitimate, and that there is a lien on your home. For too many New Mexicans, the above situation is a nightmare they can not wake up from it's reality. If you are facing a situation similar to this, your next call should be to a New Mexico tax attorney to see what your rights are. He or she can then begin to unweave the tax-law web tangled around your property.

A tax attorney in New Mexico is well acquainted with the local, state, and federal laws, so much so that they can use the laws to the client's advantage. Tax attorneys can represent individuals and businesses in New Mexico of all sizes. Both types of clients are given the best representation from beginning to end, both inside and outside the courtroom. Such representation made possible by expertise with New Mexico tax law can provide negotiations for the reduction of penalties and charges, removal of liens and garnishments, and the suspension of property seizures.

For businesses, tax attorneys oversee the best course of action, whether it be a vigorous trial or an out-of-court settlement that benefits both parties.

The tax law is defined as a system of laws describing government levies on economic transactions, called taxes, that are codified. Tax evasion or fraud occurs when an individual or business intentionally avoids paying federal, state, or local taxes through illegal means and methods, such as overstating deductions and declaring lesser income, gains, or profits than actually attained. Tax evasion is a federal crime punishable by fines, prison time, and asset forfeiture.

Federal tax matters are remarkably complex, meaning the knowledge and expertise of a tax attorney is essential to deciphering the laws. Once deciphered and assessed, a tax attorney can decide how to go about defending your case against the Internal Revenue Service (IRS), a bureaucratic behemoth that one should not approach without the aid of a tax attorney. In addition to the IRS, other departments can start criminal tax investigations, including the Federal Bureau of Investigations (FBI), United States Immigration and Customs Enforcement (ICE), and even the Postal Service. A New Mexico tax attorney will know how to deal with all such agencies.

In recent New Mexico tax news, a man and his wife were indicted on seven counts of tax evasion, as well as one count of conspiracy by conspiring to impede the IRS in the collection of taxes that are due and owed. The husband was a doctor and the wife owned a Mexican food company, and they hadn't filed personal tax returns since 1997, owing the IRS $1,306,239.00. They took different steps to conceal their assets from the IRS, including directing income payments to be payable to a false company.

Outside the courtroom, the New Mexico tax attorney can design a course of action that succeeds in the prevention of tax situations long before they become a problem. These actions involve estate and retirement planning. For business clients, there is payroll and benefit planning as well. The tax attorney advises his clients on property purchases, certain types of investments, as well as establishing and maintaining charitable foundations. The tax attorney may also be a licensed accountant or have one on staff. This deepens the relationship between attorney and client, allowing for not only legal, but also financial advice; the two are connected in many routine business transactions.

New Mexico residents who suddenly find themselves in a tax predicament can turn to a tax attorney to get solutions for the problems. Oftentimes, that attorney is a full-service representative, offering financial and legal assistance inside and outside of the courtroom. He or she is a specialist whose expertise cannot be duplicated. The next time you need tax help, consult a tax attorney who is knowledgeable of New Mexico tax law.