tax evasion

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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 ?
We expect a normal agent, with a normal degree of competence in practical and moral reasoning, to be directly sensitive and responsive to moral reasons against certain morally objectionable ways of acting, such as evading taxes, with no need of having a chancy, fortuitous thought, fully unconnected, from a semantic and rational point of view, with those moral reasons.
However, Tax Evasion (3) can also be seen as raising an objection to my own proposal, for it seems that in it, and unlike the attentiveness to moral reasons in Tax Evasion (2), imagining being severely punished is not a "next best action", something morally better that it was reasonable for Joe to do in the circumstances, at least if we assume that Joe was unaware of the causal necessity relation between this imagining and the decision against evading taxes.
For suppose that, after paying the required attention to moral reasons against evading taxes, Joe dismisses them and decides to evade taxes.
And this is also the case with Joe in Tax Evasion: he does not believe that simply becoming attentive to moral reasons against evading taxes would exempt him from blame, but it would, and with good reason, if our considerations are correct, for this is everything he could reasonably have done, in the context he was in, in order to fulfil his moral duty not to (decide to) evade taxes.
Under South Korean law, the punishment for those found guilty of evading taxes of more than 500 million won is five years to life imprisonment.
He was convicted in December of evading taxes on $8 million and was sentenced to nearly six years in prison.
22 Kyodo The Tokyo District Court on Tuesday sentenced a former talent agency president to four-and-half years in prison and fined him 250 million yen for evading taxes with help of tax inspectors and a certified public tax accountant.
The government of India is to offer an amnesty to account holders in the Swiss unit of HSBC Holdings (LSE: HSBA) for evading taxes.
Prosecutors in Mannheim, Germany, sought a jail term of six years and nine months for Peter Graf, the father of Steffi Graf, charged with evading taxes on more than $26.
Her father, Peter, who also is her manager and financial advisor, is charged with evading taxes on $28 million of her income.
Graf's father and manager, Peter Graf, was arrested in August on suspicion of evading taxes on his daughter's earnings between 1987 and 1992.