Under-Reporting

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August 25, 2024 3 min read Definitions
Under-Reporting: The Improper Failure to Report an Adequate Amount of Income on a Tax Return
Finance Taxes Under-Reporting Tax Evasion Tax Compliance Income Reporting Legal Penalties
Under-reporting occurs when an individual or entity fails to report an accurate or adequate amount of income on a tax return. This practice can result in substantial legal penalties and is considered a form of tax evasion.
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