I am doing a project on 6 physicians that understated their taxable income by $50,000.-$75,000. I am trying to find the actual tax law that states what will happen to you for doing this. i.e.- penalties,fines, prison time, criminal violation and etc. I have to write 2 papers for and against these physicians being sent to prison and really need this information to put in my paper but am having a hard time finding the correct code/law on the IRS website. If you can help it would be greatly appreciated. Thanks!
2007-04-01 07:40:28 · 2 answers · asked by Kristin 2 in Business & Finance ➔ Taxes ➔ United States
Since the whole purpose of the tax process is to collect the correct amount of tax, instead of looking for understatement, look at the penalties for tax evasion.
http://taxrelief.lifetips.com/cat/64951/irs-tax-penalties/index.html
2007-04-01 07:59:31 · answer #1 · answered by Mike1942f 7 · 0⤊ 0⤋
Wow I admire you for doing such a heavy paper!
I would scour the IRS website and call or visit your local IRS office to see if they can help you with this and at least tell you what sections and codes to read up.
What nit wits over all I say...you never mess with yoru income taxes...the IRS and Feds are not people to be messed with at all.
2007-04-01 10:23:40 · answer #2 · answered by Kris 3 · 0⤊ 0⤋