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Duff is really interested in decreasing their tax liability and tends to be somewhat tax aggressive. A friend of a friend told Duff that cash
Duff is really interested in decreasing their tax liability and tends to be somewhat tax aggressive. A friend of a friend told Duff that cash transactions are more difficult for the IRS to identify and, thus, tax. Duff is contemplating using this strategy of not reporting cash collected in their business to minimize the tax liability. Is this tax planning? What are the risks with this strategy?
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