Criminal Tax Fraud

Criminal tax fraud occurs when an individual or business intentionally misrepresents financial information to the government to avoid paying the correct amount of taxes. This can include underreporting income, inflating deductions, or hiding money in offshore accounts. Unlike simple mistakes or negligence, tax fraud involves deceit and a purposeful intent to evade tax obligations. Penalties for tax fraud can be severe, including hefty fines and imprisonment, as it undermines the integrity of the tax system and is considered a serious crime.