Tax evasion is the illegal act of not paying taxes owed to the government by deliberately misrepresenting or concealing income, assets, or financial information. This behavior can take many forms, such as underreporting income, inflating deductions, or hiding money in offshore accounts. Tax evasion undermines the integrity of the tax system and can lead to severe legal penalties for individuals and businesses involved.
congrats on reading the definition of tax evasion. now let's actually learn it.