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Posts Tagged ‘tax avoidance’

Corporate Tax Evasion Costing Over $100 Billion a Year: Study

Approximately two-thirds of U.S. corporations did not pay any federal income tax from 2006 to 2012, the Government Accountability Office said in a release. In 2012, 42.5% of large businesses did not pay federal taxes. These statistics speak volumes about how corporations use loopholes in the tax code to legally evade paying taxes in the U.S. Recent disclosures reveal that the use of tax havens and ...

Avoiding Tax Evasion

September 11, 2015  |   Tax Scams   |   Tags: , ,  

Tax evasion is often intentional, but sometimes even a well-meaning taxpayer can inadvertently face charges of tax evasion. There are various circumstances that can lead to an individual being suspected of tax evasion. Below are some common examples: Non-Reporting of Overseas Income Taxpayers are not always aware that they need to report and pay taxes on income earned overseas. When the IRS discovers that certain income sources have ...