The IRS can assess criminal penalties if fraud is found on a tax return. Name and describe at least two of those criminal penalties.
What will be an ideal response?
| • | Any person who willfully attempts to evade or defeat any tax. The charge is a felony |
| • | Any person who fails to collect, account for, and pay over any tax. The charge is a |
| • | Any person who willfully fails to pay estimated tax or other tax or file a return. The |
You might also like to view...
The most common building blocks for a company's organizational structure
A. usually consist of two divisions-a division charged with performing primary value chain activities and a division charged with performing support activities. B. usually consist of supply chain management, components manufacture, assembly, distribution, and administration. C. are almost always the departments performing such key administrative support functions as finance, accounting, information technology, human resource management, and R&D. D. typically consist of an unempowered employee department, an empowered employee department, teams of front-line supervisors, teams of middle-level managers and administrators, and the group of top-level executives that comprise the company's "executive suite." E. involve a functional or departmental structure that includes process, geographic, product, or customer groups performing one or more major processing steps along the value chain.
Answer the following statement(s) true (T) or false (F)
1. Spreadsheets and word processing programs are examples of programming languages. 2. GUI stands for Grand Universal Identifier. 3. Spreadsheets are essentially electronic accounting ledgers. 4. Presenting financial information in text format is much more powerful that displaying the same information graphically. 5. Desktop publishing allows firms of any size, or even individuals, to produce high quality reports and brochures cheaper that the price charged by a printer to provide the same services.
Mr. Bobson owns a hardware store. The gross sales for the first quarter of the year were $92,000. There was $1,930 in returned merchandise and $2,300 in sales discounts. His beginning merchandise inventory was $54,000 and his ending inventory was $40,000. He purchased $17,000 of additional merchandise for sale during the quarter, returned $1,750 worth of merchandise damaged during shipment, and
received $3,800 in purchase discounts. Mr. Bobson's operating expenses include the following: delivery expense, $263; depreciation expense for equipment, $750; payroll taxes expense, $585; salary expense, $11,700; supplies, $395; and utilities expense, $420. What is the net sales for Bobson's hardware? A) $87,770 B) $89,700 C) $90,070 D) $92,000
If a board of directors is to be effective, it needs to allocate its scarce time to the ________ issues to which its members can add ________.
A. newest; information B. most critical; value C. hardest; time D. most clear; capital