taxevasion

Meanings

• Noun

  The deliberate act of not paying owed taxes or not reporting income to the tax authorities.

  - "He was accused of tax evasion and faced serious consequences."
  - "The company was under investigation for tax evasion practices."

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Variants

List of all variants of taxevasion that leads to same result
tax base , tax bases

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Etymology

origin and the way in which meanings have changed throughout history.

The term 'taxevasion' is derived from 'tax' and 'evasion'. 'Tax' refers to a compulsory contribution to state revenue, and 'evasion' means the act of avoiding or eluding something, especially a duty or responsibility.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. The term 'tax evasion' first appeared in English in the late 19th century.

2. The largest tax evasion case in history is believed to be that of Marc Rich, who is estimated to have evaded over $40 billion in taxes.

3. The Internal Revenue Service (IRS) in the United States has a dedicated unit for investigating tax evasion and fraud cases.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Tax Avoidance: Tax avoidance is the use of legal means to minimize or eliminate tax liabilities. It is distinct from tax evasion, which involves illegal activities.

2. Tax Fraud: Tax fraud is a more serious form of tax evasion, involving the deliberate misrepresentation of facts to the tax authorities with the intent to deceive and gain an unfair tax advantage.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Tax evasion has been a topic of controversy and moral debate throughout history. It is often portrayed in literature and media as an immoral act, but some argue that it is a necessary response to an unjust tax system.

How to Memorize "taxevasion"

1. visualize
   

   - Visualize a person or organization hiding income or assets to avoid paying taxes.

2. associate
   

   - Associate the term 'taxevasion' with the idea of hiding or concealing income to avoid paying taxes.

3. mnemonics
   

   - Remember the phrase 'taxes are evaded, not avoided' to distinguish between tax evasion and tax avoidance.

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