Tax Evasion Lawyers in Monument

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

Typically, the strategy employed by tax evaders in Monument, 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 Monument, Colorado

Both federal law and the law of Colorado treat tax evasion as a serious criminal offense.

Punishments for evading one's taxes in Monument 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.

Typically, an initial offense of tax evasion, if the amount of tax evaded is comparatively small, will not result in jail time or massive fines. This is particularly the case if the government has trouble proving that the failure to pay taxes was the result of intentional evasion, as opposed to an honest error in accounting.

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

An attorney in Monument, 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.

If you find yourself actually accused of tax evasion, and are innocent, you should hire a Monument, Colorado attorney with expertise 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.