Tax Evasion Lawyers in Steamboat Springs

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

Typically, the strategy employed by tax evaders in Steamboat Springs, 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 necessary 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 Steamboat Springs, Colorado

The laws of the federal government, as well as Colorado take tax evasion very seriously, making it a crime.

In Steamboat Springs, tax evasion can result in anything from a relatively 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.

Most often, tax evasion - if it's a first offense and the tax liability is small - will not be cause for huge fines or imprisonment. This is especially true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was purposeful, as opposed to an honest mistake.

On the other hand, if the prosecution can prove that a Steamboat Springs, Colorado taxpayer engaged in fraud, and knowingly failed to pay their taxes, a tax court will probably impose the most severe punishment that's allowed by law. This can easily involve jail time.

A Steamboat Springs, Colorado Tax Evasion Lawyer Can Help

A tax attorney in Steamboat Springs, Colorado can ensure that you meet your tax liabilities, which will make an audit, or charge of tax evasion, less likely. Sometimes, it's difficult to determine exactly what one's tax liability is, and a tax attorney can help.

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