Best Tax Attorneys in Boulder

Frequently Asked Questions

• Where does the Tax Court hold trial sessions closest to Boulder, Colorado?

  The tax court trial sessions closest to Boulder are held in Denver. The location is courtroom C502 at the Byron G. Rogers U.S. courthouse on 1929 Stout Street, with the zip code 80294.

• Where is the low-income taxpayer clinic that is closest to Boulder, Colorado?

  The low-income taxpayer clinics closest to Boulder are located in Denver. These clinics include Colorado Legal Services, Denver Asset Building Coalition LITC, and the University of Denver Graduate Tax Program LITC. These clinics assist low-income individuals and can offer guidance and support for tax-related matters.

• Are there civil penalties for failing to file or pay taxes on time in Boulder?

  Yes. Failure to meet tax filing or payment deadlines in Boulder can result in civil penalties imposed by the IRS and Colorado Department of Revenue. These include a 5% monthly late filing fee for overdue returns, a 0.5% monthly late payment fee (up to 25% of the total owed), and daily interest charges based on the current federal short-term rate plus 3%. These penalties and interest are enforced from the tax's due date.

• What criteria does the IRS use to identify potential tax fraud cases in Boulder?

  The IRS identifies potential tax fraud cases in Boulder by looking for indicators or badges of fraud. These indicators include actions like understating income, failing to file tax returns, submitting false documents, engaging in irregular business practices, and engaging in illegal activities. Once a potential case of fraud is detected, it is referred to the IRS Criminal Investigation unit for a thorough investigation and possible prosecution.

• Does the city of Boulder generate tax revenue from the sale of marijuana?

  Yes, the city of Boulder generates revenue from the sale of medical and recreational marijuana. This is achieved through the collection of a base 3.86% sales and use tax on medical and recreational marijuana. Additionally, the city imposes an extra 3.50% sales and use tax on recreational marijuana. Moreover, marijuana transferred from a cultivation facility to a dispensary, testing facility, or facility that produces cannabis-infused products is subject to a 5% excise tax.

• What are the consequences of tax evasion in Boulder?

  In Boulder, tax evasion carries severe penalties upon conviction. Individuals found guilty may face up to five years in prison and fines of up to $100,000. Tax evasion is a highly serious offense with substantial repercussions. Engaging in such illegal activities can have long-lasting consequences on an individual's personal and financial well-being. It is essential to comply with tax laws and fulfill tax obligations to avoid these severe penalties.

• What should you do if you're being investigated for a tax crime in Boulder?

  If you're being investigated for a tax crime in Boulder, refrain from engaging in conversations with investigators without the presence of your lawyer and avoid relying solely on accountants for defense. A tax attorney can offer guidance, safeguard your rights, and provide representation throughout the investigation and potential litigation process.