Tax Evasion Charges

Tax evasion charges occur when an individual or business intentionally avoids paying their owed taxes. This can involve underreporting income, inflating deductions, or hiding money in offshore accounts. Tax evasion is illegal and differs from tax avoidance, which is using legal methods to minimize tax liability. If caught, individuals can face significant penalties, including fines and even prison time, depending on the severity of the offense. Tax authorities, like the IRS in the U.S., investigate suspected evasion to ensure compliance with tax laws and maintain fairness in the tax system.