Tax Evasion Lawyers in Trinidad

"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 Trinidad, 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 Trinidad, Colorado

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

In Trinidad, 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.

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 particularly true if the prosecution can't definitively prove that that the defendant's failure to pay taxes was willful, as opposed to an honest mistake.

But if the government is able to definitively show that a defendant in Trinidad, 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 Trinidad, Colorado Tax Evasion Lawyer Can Help

Attorneys in Trinidad, 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.

However, if you're really accused of tax evasion, you will need a Trinidad, Colorado tax attorney more than ever. If you are, in fact, innocent, a tax attorney can give you the best possible chance of being found not guilty.