Tax Preparers Unreported Income Criminal Penalties and Fines

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)
Misdemeanors
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

February 6, 2008 | Filed Under irs, tax preparer, unreported income 

Comments

One Response to “Tax Preparers Unreported Income Criminal Penalties and Fines”

  1. Irs » Blog Archive » Tax Preparers Unreported Income Criminal Penalties and Fines on February 27th, 2008 6:51 am

    […] 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 … […]

Share your thoughts...

You must be logged in to post a comment.