tax evasion

(redirected from evade)
Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Encyclopedia, Wikipedia.

Tax evasion

Illegal by reducing tax burden by underreporting income, overstating deductions, or using illegal tax shelters.

Tax Evasion

An illegal act or practice of not paying one's true tax liability. One may do this directly simply by not paying taxes in a given year. More often, however, the term refers to a person or company hiding assets or income in certain vehicles deemed to be improper by the IRS. It is important to note that tax evasion is different from tax avoidance, which is the minimization of one's tax liability through legal means, though it is generally acknowledged that there is a fine line between the two. See also: Shell corporation, Tax haven.

tax evasion

The illegal avoidance of taxes. The intentional omission of a gain from the sale of stock in reporting income to the Internal Revenue Service is an example of tax evasion. Compare tax avoidance.

tax evasion

any efforts by taxpayers to evade TAX by various illegal means, such as not declaring all of their income to the tax authorities or falsely claiming reliefs to which they are not entitled. Compare TAX AVOIDANCE.

tax evasion

any efforts by taxpayers to evade TAX by various illegal means, such as not declaring all their income to the tax authorities or falsely claiming reliefs to which they are not entitled. Compare TAX AVOIDANCE. See MOONLIGHTER.

tax evasion

The use of fraud or other illegal means to hide income or reduce taxes.Contrast with tax avoidance.

References in periodicals archive ?
Offered at (USD) $579,000, EVADE incorporates various composite materials, metals, high-grade leathers and high-grade alcantara to create luxury finishes throughout the vehicle.
You can convert profits to losses, put money in phony loans, buy businesses without people knowing who you are, and evade all laws regulating money.
The government's ability to defend the seizure would be enhanced greatly if the motorist's efforts to evade the checkpoint involved a violation of traffic regulations.
According to some analysts, the new unit could help the bank evade serious issues if the US decides to press criminal charges against the parent Swiss bank.
With an aim to set a new standard for the company, the all new Evade packs a 6.
In the roda, she literally springs into action, doing several aerial cartwheels to evade the other player.
In the case of a false or fraudulent return with the intent to evade tax, the tax may be assessed, or a proceeding in court for collection of such tax may be begun without assessment, at any time.
Goto, who was the union's chairman from 1992 to 1997, arranged to evade some 125 million yen in corporate income tax in fiscal 1996, which ended March 31, 1997, by not declaring around 335 million yen in revenue, according to the indictment.
Clive Bennett, DVLA chief executive, said: "Statutory off Road Notification has significantly reduced the opportunity for tax dodgers to evade vehicle excise duty.
In the August JOURNAL OF ABNORMAL PSYCHOLOGY, researchers report finding that psychopaths who evade the law may constitute a breed apart from those who at some point end up behind bars.
Five companies in Tokyo, Nagoya, Osaka and Fukuoka allegedly falsified reports to show they had sold fuel oil imported from South Korea, when it was actually gasoil that had been imported and sold, to evade light oil delivery taxes, police said.
Furthermore, SecureSphere is not vulnerable to flaws in database server software or database communication protocols that can be exploited to evade audit mechanisms.