DENVER (KDVR) — A Colorado dentist with a Fort Collins-based practice pleaded guilty Friday to six counts of tax evasion related to using a tax shelter, according to the U.S. Department of Justice’s Office of Public Affairs.
Ryan Ulibarri owned and operated Ulibarri Family Dentistry in Fort Collins since 2014, and on Friday, he pleaded guilty to concealing over $3.5 million in income from the Internal Revenue Service from 2017 through 2022. Prosecutors said Ulibarri allegedly caused a tax loss of over $1 million to the IRS.
Colorado now processing income tax returns from third-party services
They also said he used the funds to pay for things like his home’s mortgage, credit card bills, boats and professional baseball season tickets.
It all began in 2016, according to court documents, when Ulibarri purchased an “abusive-trust tax shelter for $50,000.” The tax shelter, according to the press release, concealed income and created false tax deductions through a “so-called business trust, family trust, charitable trust and a private family foundation, all of which Ulibarri owned and operated,” the office stated…