Tax Evasion Lawyers in Craig

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

Usually, the strategy employed by tax evaders in Craig, 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 familiar 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 Craig, Colorado

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

Punishments for evading one's taxes in Craig range from paying back taxes plus interest (a relatively mild punishment) all the way up to years in prison, and fines 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 especially true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was deliberate, as opposed to an honest mistake.

However, if it can be clearly proven that a person or corporation in Craig, Colorado deliberately attempted to hide 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 Craig, Colorado Tax Evasion Lawyer Can Help

Tax lawyers in Craig, Colorado can help anyone from an individual to a big business pay their taxes more easily, and comply with federal and local tax laws.

If you find yourself really accused of tax evasion, and are innocent, you should hire a Craig, Colorado attorney with experience practicing tax law, as soon as possible. Your tax attorney can help you defend yourself against the charges, ensuring that you have a good chance at being acquitted.