tax evasiontax evasion
tax evasion - Investment & Finance Definition
Illegally evading paying taxes. Tax evasion differs from tax avoidance, which is the legal avoidance of taxes. By evading taxes, taxpayers may hide income or overstate deductions or expenses. Tax evaders risk significant fines, the payment of back taxes, and potential criminal penalties, which can include jail time.
tax evasion - Legal Definition