Tax Evasion!

"Tax evasion is an illegal activity in which a person or entity deliberately avoids paying a true tax liability. Those caught evading taxes are generally subject to criminal charges and substantial penalties. To willfully fail to pay taxes is a federal offense under the Internal Revenue Service (IRS) tax code."

Tax Evasion vs. Tax Avoidance

"While tax evasion requires the use of illegal methods to avoid paying proper taxes, tax avoidance uses legal means to lower the obligations of a taxpayer. This can include efforts such as charitable giving to an approved entity or the investment of income into a tax deferred mechanism, such as an individual retirement account (IRA). In the case of an IRA, taxes on the invested funds are not paid until the funds, and any applicable interest payments, have been withdrawn."

(www.investopedia.com)

Tax Evasion Regarding Property:

"Tax evasion is a persisting problem across countries, with fraudulent behaviour especially common in the real estate sector. This column argues that tax authorities should use appraisals to identify potentially fraudulent real estate transactions. Transactions with an appraisal value that is low compared to the sales value are shown to have a higher likelihood of involving fraud. This is because low appraisals indicate an unconstrained buyer who, in contrast to a liquidity constrained buyer, is able to afford an (illegal) side payment to lower the sales value and thus the tax payment without resorting to a high mortgage." (voxeu.org)

You may notice a business that is never open or a building that just sits vacant...chances are...it's property tax evasion! Report property tax evasion today! Contact your local real estate tax office and send a letter!

https://www.youtube.com/watch?v=KPn75fw28O4