tax evasion

(redirected from Evade Taxes)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia.

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 ?
If Joe is culpable for deciding to evade taxes but has no robust and exempting AP to that, it seems that Tax Evasion (2) is a counterexample to PAP after all and my defense of this principle fails.
It is "in the interest of sound international tax policy that there not be offshore havens that people can use to evade taxes.
The agency said it would also be pursuing charges against the company's president Jeremy Kalaw, its chief operating officer Christian Pineda and its chief financial officer Joseph Kalaw for attempting to evade taxes and failing to supply the BIR with correct and accurate information in its tax returns.
Pereboom's example raises some worries concerning the deterministic horn of the aforementioned dilemma, for, if Joe's attaining a level of attentiveness to moral reasons is causally necessary for him to fail to decide to evade taxes, his not attaining that level, as is actually the case, is causally sufficient for him not to fail to decide to evade taxes, that is, for his actual decision to evade taxes, which would be then causally determined.
VX), which has been in dispute with US tax authorities over allegations that its bankers helped Americans evade taxes.
The authorities in Mannheim, Germany, say there are signs that the tenors - Jose Carreras, Luciano Pavarotti and Placido Domingo - and Caballe may have helped a local concert promoter to evade taxes.
Asada took the bribes in return for helping the accountant's clients evade taxes.
6229(c) provides that "if any partner has, with the intent to evade taxes, signed or participated directly or indirectly in the preparation of a partnership return which includes a false or fraudulent item," the SOL is extended to six years for all other partners.
Once it becomes socially acceptable to evade taxes, we're on a slippery slope," he said.
Argentina has urged HSBC Holdings (LSE: HSBA) to repatriate money that it says the bank's Argentine branch moved offshore to help clients evade taxes.
Murtaza Mughal said that masses will never pay taxes voluntarily in the unfair tax system as they know that politicians having billions evade taxes, get exemptions and look for foreign donors for help.
S tax laws make it difficult to evade taxes, with other artists like rapper Lil Wayne, R.