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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction
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To: Solon who wrote (53623)11/17/2006 7:27:02 PM
From: TimF  Read Replies (2) of 90947
 
Here is some examples of the difference -

Tax evasion - Fraudulently reporting lower income than you actual income. Set up illegal tax shelters to hide income.

Tax avoidance - Holding on to stocks to delay reporting and paying realized capital gains. Charitable deductions. Putting money in a tax sheltered IRA or 401K. Receiving compensation for employment in untaxed benefits such as health insurance rather than as taxable cash income.

I don't really think most cases of either are a matter of fine lines for lawyers to argue over.

But maybe I don't really disagree. There is a border between them that can be such a fine line. My point is merely that "tax avoidance" isn't limited to such borderline activities, but also includes clearly legal and ethical actions.
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