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What are the legal and ethical consequences of Wanda keeping two sets of financial records and failing to report all of the income from Salty

What are the legal and ethical consequences of Wanda keeping two sets of financial records and failing to report all of the income from Salty Pawz? Even though Wanda is a sole proprietor, who else could be harmed by her actions? Are there long-term problems she could be creating for herself that she doesn't see at this point? If so, what are they?

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