Tax Evasion Lawyers in Vail

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

Normally, the strategy employed by tax evaders in Vail, 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 important 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 Vail, Colorado

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

In Vail, 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.

However, the punishments for tax evasion, especially first offenses involving relatively small amounts of money, is not typically so severe, especially when it looks like the failure to pay taxes was the result of an honest mistake, rather than deliberate fraud.

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

A tax attorney in Vail, 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.

If you find yourself truly accused of tax evasion, and are innocent, you should hire a Vail, Colorado attorney with experience 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.