November 2017 JD Supra

Under U.S. Tax Law, it is appropriate for an Accountant to advise a US Taxpayer regarding his tax efficiency if the Taxpayer wants to pay less tax and accumulate wealth.  While tax avoidance is legal and encouraged by the IRS, tax evasion is discouraged. Tax avoidance involves choosing legal means to reduce current or future tax liabilities.  Tax Evasion means willfully doing illegal things to avoid paying taxes.