penalties for tax evasion through unreported income or hidden assets
Penalties for tax evasion through unreported income or hidden assets refer to the punitive measures imposed on individuals or businesses found guilty of intentionally concealing their true earnings or assets to evade paying taxes. These penalties serve as legal consequences, which may include fines, imprisonment, asset seizure, and other sanctions, aiming to discourage tax evasion and ensure fairness in the taxation system.
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