On March 4, 2025, the Department of Justice announced that a Colorado dentist pleaded guilty to six counts of tax evasion in connection with his use of a tax shelter.
According to court documents, Ryan Ulibarri owned and operated Ulibarri Family Dentistry in Fort Collins, Colorado. In 2016, he purchased a tax shelter that involved the use of multiple trusts and a private family foundation. From 2017 through 2022, these entities were purportedly used to manage over $3.5 million in income from his dental practice.
Court records indicate that Ulibarri transferred ownership of his dental practice to a business trust and directed practice earnings into accounts associated with the trusts and foundation. Prosecutors alleged that these funds were ultimately used for personal expenses while being reported on tax filings as trust income and charitable contributions. The government further asserted that Ulibarri continued utilizing this structure after accountants and lawyers advised that a trust could not legally own a dental practice in Colorado.
The government estimates the alleged tax loss at over $1 million. As part of his plea, Ulibarri admitted to filing tax returns that inaccurately reported the income of his dental practice. He is scheduled for sentencing on June 17 and faces a maximum penalty of five years in prison for each count, as well as potential restitution and monetary penalties.
When challenged by the IRS or other government agencies, businesses and individuals may face significant financial and legal exposure. Chilivis Grubman attorneys have extensive experience representing professionals in tax-related enforcement matters, including audits, investigations, and criminal proceedings. If you need help with such a matter, contact us today.