Tax Payers Unreported Income Criminal Penalties and Fines

For my upcoming seminar May 2008 on IRS and Unreported Income I have prepared the following summary:
Tax Payers Unreported Income: Criminal Penalties and Fines
Imprisonment (Up to 14 Years) 
Felonies
1) IRC §7201:  Tax Evasion (Willful Evasion of Tax)
Felony: Up to 5 years in prison
Fine:   $100,000 (individual) $500,000 (corporation) 
2.   Additional Felonies
IRC §7212: Obstruct (Impede) Tax Collection
18 U.S.C. 371:   Conspiracy to Impede Tax Collection (Separate Charge of Impeding)
Misdemeanors
3.  IRC §7203:  Failure to File Tax Return
Misdemeanor: Up to 1 year in prison
Fine: $25,000 (individual) $100,000 (corporation)
Fines (Penalties)
1) Civil Tax Fraud
Maximum Penalty: 75% of Tax DueI
RC §6651(f)): Fraudulent Failure to File Tax Return
IRC §6663(a)): Fraudulent Tax Return Filed
2) Failure to Pay Tax
Maximum Penalty: 25% of Tax Due
IRC §6651(a)(2): Shown on Return

IRC §6651(a)(3): Not Shown on Return

February 5, 2008 | Filed Under irs, unreported income 

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