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  What is Tax Evasion?

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outsourceseo
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PostSubject: What is Tax Evasion?   Sun Nov 13, 2016 7:53 pm

Tax evasion is usually understood to be an act in which an individual intentionally chooses to not pay income taxes due. This act of not paying taxes may be conducted by simply chooses to not file an income tax return, or choosing to not include information about taxable income on the filed return. In all instances, this act can be considered to be fraud, and usually carries stiff penalties. While there are some that consider any type of omission from the tax return to constitute tax evasion, it is important to remember that it is possible to omit an item simply because the data was overlooked when filing the return. Thus, the intent of the individual plays a key role in determining if tax evasion has taken place. When the return fails to include information simply because the filer overlooked the data, there is a good chance that the tax agency will still impose a fine of some sort, but no further action would be taken.

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http://www.barretttaxlaw.com

Barrett Tax Law
45 Basaltic Road, Suite 1B
Vaughan, ON
L4K 1G5
(416) 907-8429

Barrett Tax Law - Ottawa
116 Albert Street, Suite 702
Ottawa, ON
K1P 5G3
(613) 667-2419



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