Tax Evasion and Fraud Law

Tax evasion and fraud refer to illegal activities where individuals or businesses intentionally misrepresent their income or expenses to reduce their tax liability. Tax evasion involves failing to report income, inflating deductions, or hiding money in offshore accounts. Tax fraud includes more serious offenses, such as falsifying documents or creating fake entities to claim deductions. Both actions violate tax laws and can lead to severe penalties, including fines and imprisonment, as they undermine the tax system that funds public services. It’s crucial to report income accurately and comply with tax regulations.