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LSDefine

Simple English definitions for legal terms

tax fraud

Read a random definition: in nullius bonis

A quick definition of tax fraud:

Term: Tax Fraud

Definition: Tax fraud is when someone tries to cheat on their taxes by lying on their tax return or other tax documents. This can include things like saying they have less money than they really do, claiming deductions they aren't entitled to, or not reporting all of their income. The important thing is that the person did it on purpose, not by accident. Tax fraud is against the law and can result in serious consequences.

A more thorough explanation:

Tax fraud

Tax fraud is when a person or business intentionally falsifies information on their tax return or other tax documents to reduce the amount of taxes they owe. This can include lying about the value of assets, claiming false deductions or credits, or not reporting all of their income. It is important to note that tax fraud must be proven as an intentional act, and does not include honest mistakes made when filing taxes.

Example 1: John owns a small business and decides to underreport his income on his tax return to pay less in taxes. This is an example of tax fraud because John intentionally falsified information on his tax return to reduce his tax liability.

Example 2: Sarah accidentally forgets to report some income on her tax return. This is not an example of tax fraud because it was an honest mistake and not an intentional act to reduce her tax liability.

The examples illustrate tax fraud by showing the difference between intentional and unintentional acts. In example 1, John intentionally falsified information to reduce his taxes, while in example 2, Sarah made an honest mistake. It is important to understand the difference between intentional and unintentional acts when it comes to tax fraud.

tax examiner | tax liability

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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