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The case stated that Anderson avoided paying taxes on $450,000,000 earned, which created a loss of $200,000,000 in government taxes between 1995-1999, but pleaded guilty to a lesser amount. His charges were two counts of tax evasion and one count of defrauding the DOC for failing to report income.
It causes a tax gap by the reducing tax revenue of a government. [5] [6] A 2005 University of California, Los Angeles, study showed that the economy in California was weakened by more than two million workers being paid without paying taxes. [7] Indeed, it is estimated that over US$214.6 billion went unreported to the IRS last year alone from ...
Tax evasion or tax fraud is an illegal attempt to defeat the imposition of taxes by individuals, corporations, trusts, and others. Tax evasion often entails the deliberate misrepresentation of the taxpayer's affairs to the tax authorities to reduce the taxpayer's tax liability, and it includes dishonest tax reporting, declaring less income ...
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Beginning with the 1980 tax year, Cheek stopped filing Federal income tax returns. He was eventually charged with six counts of willfully failing to file Federal income tax returns under 26 U.S.C. § 7203 for 1980, 1981, and 1983 through 1986. He was also charged with tax evasion under 26 U.S.C. § 7201 for years 1980, 1981, and 1983. [21]
(2) to pay the amount shown on tax on any return specified in paragraph (1) on or before the date prescribed for payment of such tax (determined with regard to any extension of time for payment), unless it is shown that such failure is due to reasonable cause and not due to willful neglect, there shall be added to the amount shown as tax on ...