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PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4027
Experience:  35 years tax experience, including four years at a Big 4 firm.
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What is the penalty on tax returns?

Customer Question

What is the penalty for perjury on tax returns?
Submitted: 7 months ago.
Category: Tax
Expert:  PDtax replied 7 months ago.

I borrowed the following from an attorney's web page. The text and cite follow:

Tax Perjury Penalties

Tax perjury itself and the act of aiding or assisting it are felonies. In both instances the defendant is subject to a maximum fine of $100,000. If the defendant is a corporation, the maximum is $500,000. The defendant is also subject to a prison sentence of up to three years. The sentence depends on a variety of factors, not least of which is the amount of money the defendant attempted to illegally retain or obtain. Other factors that will affect the punishment include whether:

  • the fraud was part of a scheme that created a considerable portion of the defendant’s income
  • the defendant was in the business of preparing tax returns, and
  • the defendant attempted to conceal the fraud with sophisticated methods.
Expert:  PDtax replied 7 months ago. is the link

Expert:  PDtax replied 7 months ago.

Thanks for asking at just answer. Positive feedback is appreciated. I'm PDtax.

Expert:  PDtax replied 7 months ago.

Hi again. PDtax here. Just following up.

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