Tax Evasion Lawyers in Thornton
"Tax Evasion" refers to the crime of knowingly failing to pay one's taxes, as required by Colorado law.
Normally, the strategy employed by tax evaders in Thornton, 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 critical 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 Thornton, Colorado
The laws of the federal government, as well as Colorado take tax evasion quite seriously, making it a crime.
In Thornton, 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 deliberate, as opposed to an honest mistake.
But if the government is able to definitively establish that a defendant in Thornton, Colorado intentionally engaged in fraud to get out of paying taxes, a tax court is highly unlikely to show any leniency, and may well sentence the defendant to prison time.
A Thornton, Colorado Tax Evasion Lawyer Can Help
A tax attorney in Thornton, 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 precisely what one's tax liability is, and a tax attorney can help.
In the unfortunate event that you're truly charged with tax evasion, it's critical that you hire a knowledgeable tax attorney in Thornton, Colorado. If you are actually innocent, your tax attorney can help make sure that you have the best chance you can of being found not guilty.