Tax Evasion Lawyers in Golden
"Tax Evasion" refers to the crime of deliberately failing to pay one's taxes, as required by Colorado law.
Normally, the strategy employed by tax evaders in Golden, 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 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 Golden, Colorado
Both federal law and the law of Colorado treat tax evasion as a significant criminal offense.
In Golden, tax evasion can result in anything from a comparatively small fine, and a court order to pay any back taxes as well as interest, all the way up to financial penalties in the hundreds of thousands of dollars, as well as jail time.
However, the punishments for tax evasion, particularly first offenses involving relatively small amounts of money, is not typically 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 is able to definitively establish that a defendant in Golden, Colorado intentionally engaged in fraud to get out of paying taxes, a tax court is very unlikely to show any leniency, and may well sentence the defendant to prison time.
A Golden, Colorado Tax Evasion Lawyer Can Help
Attorneys in Golden, 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.
Of course, if you've truly been accused of tax evasion, you should hire a Golden, Colorado tax lawyer immediately. If you are innocent, a tax attorney will make sure you have the best chance possible at being acquitted.