penalties for tax evasion through cash-based businesses or illicit cash transactions
Penalties for tax evasion through cash-based businesses or illicit cash transactions refer to the legal consequences imposed on individuals or entities that intentionally avoid reporting or underreporting their income generated from such operations, or engage in illegal cash transactions to evade payment of taxes. These penalties aim to deter and punish such activities, typically through fines, imprisonment, or both, as determined by the applicable tax laws and regulations.
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