Tax Fraud

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Dictionary Says

Definition of 'Tax Fraud'

Tax fraud occurs when an individual or business entity willfully and intentionally falsifies information on a tax return in order to limit the amount of tax liability. Tax fraud essentially entails cheating on a tax return in an attempt to avoid paying the entire tax obligation. Examples of tax fraud include claiming false deductions; claiming personal expenses as business expenses; and not reporting income.

 
Investopedia Says

Investopedia explains 'Tax Fraud'

Tax fraud involves the deliberate misrepresentation or omission of data on a tax return. In the United States, taxpayers are bound by a legal duty to voluntarily file a tax return and to pay the correct amount of income, employment and excise taxes. Failure to do so by falsifying or withholding information is against the law and constitutes tax fraud. Tax fraud is investigated by the Internal Revenue Service Criminal Investigation (CI) unit.
Search results for

'Tax Fraud'

  • Why People Don't Lie On Their Tax Returns - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0411/Why-People-Dont-Lie-On-Their-Tax-Returns.aspx
    ... However, for tax fraud crimes such as tax evasion, there are penalties of up to
    75% of the tax due plus interest on both the tax and the penalty starting from ...

  • Avoiding Tax Scams

    http://www.investopedia.com/articles/tax/09/avoiding-tax-scams.asp
    ... If you suspect an individual or an organization of committing tax fraud, you can
    report them to the IRS using the Information Referral Form (Form 3949-A), and ...

  • How To Report A Tax Cheat

    http://www.investopedia.com/articles/taxes/09/reporting-tax-cheats.asp
    ... (Find out which tax fraud schemes can lead to big headaches down the road, read
    Avoiding Tax Scams.) Cover Your Assets Fabricating a complaint in order to ...

  • Surviving The IRS Audit

    http://www.investopedia.com/articles/pf/06/IRSAudit.asp
    ... of tax liability. 75% Penalty - This typically applies to more serious tax
    underpayments that are due to fraud. If the IRS determines ...

  • Surviving The IRS Audit

    http://www.investopedia.com/articles/pf/06/irsaudit.asp
    ... of tax liability. 75% Penalty - This typically applies to more serious tax
    underpayments that are due to fraud. If the IRS determines ...

  • Series 6 Study Guide - Securities Industry Regulations - Insider ...

    http://www.investopedia.com/exam-guide/finra-series-6/securities-industry-regulations/insider-trading-securities-fraud-enforcement-act-1988.asp
    ... 5.8 Insider Trading and Securities Fraud Enforcement Act of 1988; 5.9 Securities ...
    7.2 Federal Income Tax Regulations; 7.3 Tax Consequences of the Investment ...

  • What To Do If You Get Audited - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0511/What-To-Do-If-You-Get-Audited.aspx
    ... accuracy. You may need your returns and supporting documentation from the last
    three years (or longer in cases of suspected tax fraud). ...

  • Happily Married? File Taxes Separately!

    http://www.investopedia.com/articles/tax/08/file-seperately.asp
    ... All other instances where this is appropriate are related to divorce,
    separation or relief from liability for tax fraud or evasion. ...

  • How The Wealthy Slash Their Income Tax Bills - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1211/How-The-Wealthy-Slash-Their-Income-Tax-Bills.aspx
    ... Stories about millionaires and billionaires who pay little or no income tax make
    great headlines, especially when these people have committed tax fraud. ...

  • Skechers' Toning Footwear A Fraud?

    http://stocks.investopedia.com/stock-analysis/2011/Skechers-May-Be-Making-Sketchy-Claims-SKX-NKE-CROX-WWW1004.aspx
    ... Article; Comments (0). Skechers' Toning Footwear A Fraud?
    Posted: Oct 05, 2011 03:00 AM by Matt Cavallaro. ...

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