ASK MICKEY, CPA
QUESTION: What exactly is tax fraud/tax evasion?
ANSWER: Tax fraud is the act of intentionally and wrongfully trying to evade taxes, which can lead to both civil and criminal penalties. If you understand what tax fraud is, you can compare to legal strategies that reduce tax liability can help taxpayers stay on the right side of the law while minimizing their tax burden. In fiscal year 2020, there were 324 tax fraud offenders sentenced under the guidelines. The number of tax fraud offenders has decreased by 45.5% since fiscal year 2016. Always talk with your CPA to determine the best legal strategies for you that will help reduce your taxes.
#tax#taxes#law#law#legal#taxpreparer#taxpreparation#taxfraud#cpa#cpafirm#cpas#taxevasion
