Tax Evasion Lawyers in Centennial
"Tax Evasion" refers to the crime of knowingly failing to pay one's taxes, as required by Colorado law.
Typically, the strategy employed by tax evaders in Centennial, Colorado is to try and make it look like they have less taxable income than they actually do. This can be done by failing to report income, concealing it, or fraudulently transferring property.
You may also be acquainted with the term "tax avoidance." It is critical that you don't confuse this with "tax evasion." Tax avoidance is perfectly legal, and is probably something that every taxpayer does whenever they file, whether they know it or not. It involves employing legal methods to make one's tax liability as small as possible, taking advantages of deductions and other tax breaks.
Penalties for Tax Evasion in Centennial, Colorado
Under the laws of Colorado, as well as federal law, tax evasion is a very significant criminal offense.
The penalties for tax evasion in Centennial can range anywhere from small penalties to huge penalties, along with prison sentences of several years.
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 willful.
But, if the government can prove that a defendant in Centennial, Colorado knowingly 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 Centennial, Colorado Tax Evasion Lawyer Can Help
Tax lawyers in Centennial, Colorado can help anyone from an individual to a big business pay their taxes more quickly, and adhere with federal and local tax laws.
However, if you're actually accused of tax evasion, you will need a Centennial, Colorado tax attorney more than ever. If you are, in fact, innocent, a tax attorney can give you the best possible chance of being found not guilty.