Tax


Serious Ramifications Of Tax Evasion

Serious Ramifications Of Tax Evasion

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Serious Ramifications Of Tax Evasion
Tax evasion is a criminal charge which, if proved, can result in the U.S. taxpayer being imposed with the obligation to serve a term in prison or to pay a fine to the government. Specifically, evading one’s tax obligations to the U.S. government is considered a felony. 
To this end, tax evasion can be punished with a term of imprisonment lasting for a maximum duration of 3 years, as well as a fine going up to $100,000. That being said, non-payment of tax charges in this regard will not result in penalties being issued against people suspected of this offense unless they can be proved to have done so in a court of law. 
Tax evasion, as a criminal offense and the grounds for legal action, should not be confused with the similarly named occurrence of tax avoidance, which refers to the hoped-for consequence of legal measures taken to avoid tax obligations.


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