Yes.  Failing to file taxes is a serious problem.  Under Colorado law, for example, a person who “willfully attempts in any manner to evade or defeat” any tax or the payment thereof is guilty of a class 5 felony pursuant to Colorado Revised Statute 39-21-118.   So, what does that mean:  that means that you can be sentenced to three years in jail or fined up to $100,000 in some cases. 

Visit www.wlhenry.com for more information or contact us at (303) 952-5064 to learn more.

Tags: Failure to File, failure to file taxes, jail, tax

This entry was posted on Monday, January 12th, 2009 at 10:51 am and is filed under Failure to File. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.