Discuss distinction between tax evasion and tax avoidance

Reference no: EM133676929

Question

Discuss the distinction between tax evasion and tax avoidance. People may make mistakes with their taxes. This may be unintentional. However, others deliberately try to avoid paying taxes. Find examples of individuals who underreported or falsely reported information to reduce their taxes. Find a current example within the last five years and address the following:

1. Did the person who avoided paying tax do so properly?

2. What legal ways could the tax evader have used to avoid being accused of tax evasion?

3. Explain the proper way to avoid paying tax using a tax planning approach.

Reference no: EM133676929

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