What is Sales Tax Evasion?

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March 27, 2018
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What is Sales Tax Evasion?

Sales tax evasions are measures taken to avoid sales tax. It is a deliberate attempt of failing to report, assess or collect state or local sales tax. Unlike many taxes, the sales tax is specific to each state. However, local governments may also set a particular sales tax.

When consumers buy products or services, they are required to pay sales tax to the state. Sellers, therefore, must track and collect the sales tax in trust for the state. These funds must be sent to the state, generally on a monthly basis.

Sales Tax Evasion is considered a serious criminal offense in many states but it is different from negligence. Negligence occurs when a retailer makes an error which may be attributed to failure to decipher the Sales tax code correctly.

However, when it is intentional, then it becomes a sales tax evasion.

Differences between Tax Fraud and Evasion

Tax Fraud is a deliberate attempt to defraud the government by refusing to pay tax when they are lawfully due.

Tax Evasion, on the other hand, is a type of fraud and refers to any action taken by an individual with the intention to either pay less or no form of sales tax to the authorities. It is punishable by criminal and civil penalties and can arise in different unlawful sales practices.

Some signs of sales tax evasion may include:

  1. Placing astonishingly low prices on goods and services
  2. Failure to issue sales receipts
  3. Failure to ring up all purchases while using the cash register
  4. Failure to report or remit sales tax collected to the state or local government.
  5. Committing an affirmative act in the persistence of the evasion.

An affirmative act applies to any action taken to misinterpret or obscure any material fact with the intent to tamper or destroy the documents with regards to tax liability. Affirmative actions may also apply to the use of automated sales suppression devices or phantom-ware to manipulate the sales register’s records.

The installation, sales, possession, purchase or utility of such devices may be a criminal offense in your state.

Penalties for committing Tax evasion

Depending on the extent of the activities involved, the individual may be required to pay steep fines or even do jail time. Typically, it may be considered a misdemeanor, and the individual is required to pay a fine, but in cases where the amount of unpaid taxes exceed a certain amount, it becomes a felony and prison time may be imposed.

Resolve Tax Debts

It is an excellent practice to avoid all charges of frauds by paying taxes in full and on time. While Sales Tax may seem easy to get away with, the risks are enormous.

Therefore, take your sales tax requirements seriously to avoid unnecessary and unwanted events which may ruin your business reputation. At Urgent Tax services, we are available to help you with your sales tax needs. Contact us today (212) 320-8191 or by email at info@urgenttaxservices.com

Urgent Tax Services

6009 16th Ave,

Brooklyn, NY 11204

Ph. (212) 320-8191

Fax (646) 626-6447

sol@urgenttaxsrrvices.com

www.urgenttaxservices.com

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