A Colorado dentist was sentenced to 41 months in prison for tax evasion.
Ryan Ulibarri, DDS, owned and operated Ulibarri Family Dentistry in Fort Collins, Colo. In 2016, he purchased a tax shelter for $50,000, which was used to conceal income and create false tax deductions.
Dr. Ulibarri used the tax shelter to conceal more than $5 million in income from the IRS and evade more than $1.6 million in federal and state income taxes, according to a June 18 news release.
In addition to his prison sentence, Dr. Ulibarri will undergo three years of supervised release and pay a $150,000 fine. He was also ordered to pay more than $1.4 million in restitution to the IRS and $166,966 in restitution to the Colorado Department of Revenue.
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