When it comes to tax time, we start hearing about an increase in tax fraud. Though these stories come out throughout the year, they are most prevalent on people’s minds as they are getting ready to do their own taxes. The most common form of tax fraud is tax evasion. Whether just not paying the taxes owed, not filing a tax return, or fudging a few numbers, it is illegal to deal in tax evasion.
So, why do so many people or businesses evade their taxes each year? There are many reasons for this. First, some people feel that it is unfair that they should be taxed the amount that they are. They do not feel comfortable giving the country the amount of money that is wanted by the IRS. Whether or not a person thinks that it is fair, it is still the law. Another reason that is commonly used for tax fraud is that it is just so easy to fudge a few numbers here and there. In this case, the person or company evading the correct amount may not realize how much trouble they can get into for just a few slipped numbers. No matter how much you change the numbers—whether it’s just a little here or there, or hundreds of thousands of dollars—you are effectively stealing from the country.
Making sure that you double check your taxes, and possibly even have someone else check them for you before you file, is crucial. You don’t want to end up being accused of tax evasion or tax fraud. This can ruin your reputation at the very least, and end in fines and jail time at worst. Keeping a careful eye on your taxes can save you a large amount of time and stress in the long run.