Tax Preparers Unreported Income Criminal Penalties and Fines

February 6, 2008 by
Filed under: IRS, tax preparer, unreported income 

For my upcoming seminar May 2008 on IRS and Unreported Income I have prepared the following summary: Tax Preparers Unreported Income: Criminal Penalties and Fines (Imprisonment up to 18 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) IRC §7206: Fraudulent Tax Return (Preparation)
Felony: Up to 3 years in prison
Fine: $100,000 (individual), $500,000 (corporation)

3) Additional Felonies:
IRC §7212: Obstruct (Impede Collection of Tax)
18 U.S.C. 371 – Conspiracy to Impede Tax Collection
(Separate Charge of Impeding)
M
isdemeanors
4) IRC §7203: Failure to File Tax Return
(Keep Records, Supply Information)
Misdemeanor: Up to 1 year in prison
Fine: $25,000 (individual),  $100,000 (corporation)
5) IRC §7210:  Failure to Comply with Summons
(Testimony, Production of Books & Records)
Misdemeanor: Up to 1 year in prison
Fine: $1,000

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One Comment on Tax Preparers Unreported Income Criminal Penalties and Fines

    [...] admin wrote an interesting post today on Tax Preparers Unreported Income Criminal Penalties and Fines. Here’s a quick excerpt- For my upcoming seminar May 2008 on IRS and Unreported Income I have prepared the following summary:Tax Preparers:Unreported Income: Criminal Penalties and Fines Imprisonment (Up to 10 Years) 1) IRC §7201: Tax Evasion (Willful Evasion … [...]

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