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Richard recently received $10,000 of compensation for some consulting work (paid in cash).Jeffrey recently received $10,000 of interest income from City of Dallas bonds.Both taxpayers report no taxable income from these transactions.Is this considered tax avoidance or tax evasion? What is the difference,if any,between the two?
Firms
Business organizations or entities engaged in commercial, industrial, or professional activities.
Government
The governing body of a nation, state, or community, responsible for making and enforcing laws, policies, and regulations.
Consumption
The use of goods and services by households, constituting one of the primary components of economic activity and indicators of economic health.
Income
Financial returns received, usually on a steady basis, from work or investment profits.
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