Tax Evasion Lawyers in Colorado Springs
"Tax Evasion" refers to the crime of deliberately failing to pay one's taxes, as required by Colorado law.
Normally, the strategy employed by tax evaders in Colorado Springs, 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 important 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 Colorado Springs, 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 Colorado Springs can range anywhere from small penalties to huge penalties, along with prison sentences of several years.
In the majority of tax evasion cases, however, the punishments are not so severe. This is particularly likely in first offenses, when the amount of money involved is fairly small. Minor punishments for tax evasion normally 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 establish that a Colorado Springs, Colorado taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most grave punishment that's permitted by law. This can easily involve jail time.
A Colorado Springs, Colorado Tax Evasion Lawyer Can Help
A Colorado Springs, Colorado attorney who concentrates in tax law can help ensure that you are in conformity with all applicable tax laws, making an accusation of tax evasion less likely.
If the government truly charges you with tax evasion, it cannot be stressed enough that you need the assistance of a reliable Colorado Springs, Colorado 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.