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Rivera underpaid her income tax by $45,000. The IRS can prove that $40,000 of the underpayment was due to fraud. a. Determine Rivera's civil fraud penalty. b. Rivera pays the penalty five years after committing the fraudulent act. Her after

Rivera underpaid her income tax by $45,000. The IRS can prove that $40,000 of the underpayment was due to fraud.
a. Determine Rivera's civil fraud penalty.
b. Rivera pays the penalty five years after committing the fraudulent act. Her after tax rate of return on available cash is 9%. What is the present value of Rivera's penalty?

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South Western Federal Taxation 2017 Comprehensive

South Western Federal Taxation 2017 Comprehensive

ISBN: 9781305874169

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Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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Posted Date: February 27, 2017 03:42:29
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