Tax evasion
Term · Law · MLC-T-LAW-004844
The illegal act of deliberately misrepresenting financial information to avoid paying taxes owed to a government entity. This involves actions such as underreporting income, overstating deductions, or concealing assets. Tax evasion is a criminal offense, punishable by fines, imprisonment, or both, under statutes like 26 U.S. Code § 7201.
| Identifier | MLC-T-LAW-004844 |
|---|---|
| Field | Law |
Record as JSON
{
"id": "MLC-T-LAW-004844",
"term": "Tax evasion",
"field": "Law",
"definition": "The illegal act of deliberately misrepresenting financial information to avoid paying taxes owed to a government entity. This involves actions such as underreporting income, overstating deductions, or concealing assets. Tax evasion is a criminal offense, punishable by fines, imprisonment, or both, under statutes like 26 U.S. Code § 7201.",
"url": "https://mlchart.com/terminology/law/tax-evasion/"
}
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