What is Tax Avoidance vs. Tax Evasion?

person looking at tax documents

While both tax avoidance and tax evasion may sound like something that could get you in trouble with the IRS, tax avoidance is legal, while tax evasion is not. Tax avoidance means taking steps to lower your tax bill. Tax evasion, on the other hand, is deliberately paying less than you legally owe.

In this article I wrote for MagnifyMoney, I share more about the difference between the two, and how readers can avoid having the IRS target them for not paying their fair share. Read the full article here.

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