Tax evasion is

Question

Tax evasion is

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Tax evasion is illegal and includes the informal economy. Finding loopholes in the system that lead to tax evasion is tax fraud and can result in fines or imprisonment. The informal economy, also known as the shadow or black economy, refers to economic activity that is not regulated or taxed by the government. This includes activities such as under-the-table payments, undeclared income, and unlicensed businesses. These activities are often associated with tax evasion and are illegal.

Tax Evasion Is