Tax Evasion Lawyers in Silverthorne

"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 Silverthorne, 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 Silverthorne, Colorado

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

Punishments for evading one's taxes in Silverthorne 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.

However, if the relevant tax authorities are able to demonstrate that a taxpayer in Silverthorne, Colorado committed willful 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 Silverthorne, Colorado Tax Evasion Lawyer Can Help

Attorneys in Silverthorne, 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.

If the government really charges you with tax evasion, it cannot be stressed enough that you need the assistance of a seasoned Silverthorne, Colorado tax attorney. Assuming you're actually innocent, your tax lawyer can help you prepare a defense, and ensure that you have a good chance of being found not guilty. On top of that, they can make getting through such a difficult time much easier.