Tax Evasion Lawyers in Eaton
"Tax Evasion" refers to the crime of willfully failing to pay one's taxes, as required by Colorado law.
Usually, the strategy employed by tax evaders in Eaton, 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 necessary 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 Eaton, Colorado
Under the laws of Colorado, as well as federal law, tax evasion is a very egregious criminal offense.
Punishments for evading one's taxes in Eaton 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.
However, the punishments for tax evasion, particularly first offenses involving relatively small amounts of money, is not normally so severe, particularly when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.
But, if the government can prove that a defendant in Eaton, Colorado willfully 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 Eaton, Colorado Tax Evasion Lawyer Can Help
Attorneys in Eaton, 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 really charged with tax evasion, it's important that you hire a reliable tax attorney in Eaton, 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.