Evasion of Tax
Definition - What does Evasion of Tax mean?
Evasion of tax represents an intentional attempt to avoid the payment of taxes. Evasion of tax is different from late payment and it involves using loopholes, errors, and legal means to avoid tax payments.
Justipedia explains Evasion of Tax
Evasion of tax or tax evasion can be seen at individual, trust, or at corporate levels. It means an intentional representation of misleading information to the tax authorities. One example of this misrepresentation includes "unreported income."