Tax Evasion Lawyers in Cortez

"Tax Evasion" refers to the crime of intentionally failing to pay one's taxes, as required by Colorado law.

Typically, the strategy employed by tax evaders in Cortez, 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 essential 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 Cortez, Colorado

Under the laws of Colorado, as well as federal law, tax evasion is a very significant criminal offense.

Punishments for evading one's taxes in Cortez range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and penalties in the hundreds of thousands of dollars.

Most often, tax evasion - if it's a first offense and the tax liability is small - will not be cause for huge fines or imprisonment. This is particularly true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was willful, as opposed to an honest mistake.

However, if it can be clearly proven that a person or corporation in Cortez, Colorado intentionally attempted to conceal income or assets for the purpose of getting out of taxes, a court will probably throw the book at them, so to speak. This can mean jail sentences measured in years, and fines in the six or seven figures.

A Cortez, Colorado Tax Evasion Lawyer Can Help

Attorneys in Cortez, Colorado who practice tax law can help you stay in conformity with your tax commitments. This is a good way to confirm that you won't be suspected of tax evasion in the first place.

In the unfortunate event that you're actually charged with tax evasion, it's essential that you hire a qualified tax attorney in Cortez, Colorado. 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.