Tax Squeal Report Tax Fraud | Tax Sch...

Tax Squeal Report Tax Fraud | Tax Schemes

Posted in the Top Stories Forum

quarrie oriard

Copenhagen, Denmark

#1 Jul 22, 2014
Examples of Common Tax Fraud

The term voluntary compliance in regards to income tax in the United States means that each individual is responsible for filing a tax return when required and for determining and paying the correct amount of tax. Luckily, the vast amount of Americans recognize their legal obligation and properly report and pay over their tax obligations. However, those who choose not to comply with the law often employ one or more of the following common tax fraud schemes:

• Failing to file an income tax return
• Concealing income
• Deliberately under reporting or omitting income
• Overstating the amount of deductions
• Hiding or transferring assets or income to someone else
• Claiming false deductions
• Making false entries in books and records
• Keeping two sets of books
• Claiming personal expenses as business expenses
• Paying employees with cash
• Transferring assets or income out of the U.S.

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