Hal and Wanda, his wife, are in the 35% marginal tax bracket in the current year. Wanda
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a. If the government successfully proves fraud in a civil suit against Wanda, what fines and/or penalties might she owe? If Hal and Wanda establish that the overstatement is not attributable to fraud, can the government impose a civil fraud penalty on Hal?
b. If the government successfully proves fraud in a criminal suit against Wanda, what fines or penalties might she owe? Could she or Hal be sentenced to prison?
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Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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