Tax Evasion Lawyers in Fountain

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

Normally, the strategy employed by tax evaders in Fountain, 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 crucial 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 Fountain, 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 Fountain 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.

In the majority of tax evasion cases, however, the punishments are not so severe. This is especially 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.

However, if the relevant tax authorities are able to demonstrate that a taxpayer in Fountain, Colorado committed deliberate fraud, in order to evade their legal duty to pay taxes, a tax court is probably going to impose a more severe penalty, which may include jail time, and large financial penalties.

A Fountain, Colorado Tax Evasion Lawyer Can Help

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

Of course, if you've truly been accused of tax evasion, you should hire a Fountain, Colorado tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.