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Essay

TAX AVOIDANCE vs. TAX EVASION

Essay specific features

 

Issue:

Miscellaneous

 

Written by:

Ian C

 

Date added:

June 21, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

7 / 1822

 

Was viewed:

1908 times

 

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Essay content:

Avoiding taxes can be accomplished though various legal means, whereas evading taxes is highly illegal and can result in severe penalties. In order to effectively reduce taxes without suffering serious consequences, it is critical that all taxpayers fully understand the differences between avoiding taxes and evading taxes...
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The most important difference between these two situations is that avoiding taxes can be done legally, while evading taxes cannot. In fact, tax avoidance is defined as "the minimization of tax liability by lawful methods" (freedictionary.com). Anytime methods outside of the legal boundaries are used to avoid taxes, it is considered to be tax evasion...
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