Tax Evasion Lawyers in Firestone

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

Usually, the strategy employed by tax evaders in Firestone, 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 Firestone, 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 Firestone 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.

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 usually 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.

But, if the government can prove that a defendant in Firestone, Colorado intentionally 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 Firestone, Colorado Tax Evasion Lawyer Can Help

An attorney in Firestone, Colorado specializing in tax law can help you adhere with all the tax laws that apply to you, which makes it very unlikely that you'll ever be accused of tax evasion in the first place.

However, if you're really accused of tax evasion, you will need a Firestone, 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.