Tax fraud is a heavily laden term that means much more than an error in judgment. The violation occurs when a person knowingly provides incorrect information on the tax returns.
Strangely, a simple tax problem could spiral out of control and attract hefty penalties, including criminal charges and jail terms. The Internal Revenue Service (IRS) treats all tax issues seriously, and this includes filing a false tax return and accompanying documentation.
Most tax matters can be amended with the help of an experienced tax specialist or attorney with a deep understanding of IRS investigations and tax laws. Here are five types of tax fraud activities that you should be aware of in 2021:
Willfully underreporting taxable income
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