How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask PDtax Your Own Question
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4677
Experience:  35 years tax experience, including four years at a Big 4 firm.
Type Your Tax Question Here...
PDtax is online now
A new question is answered every 9 seconds

What is the penalty on tax returns?

Customer Question

What is the penalty for perjury on tax returns?
Submitted: 1 year ago.
Category: Tax
Expert:  PDtax replied 1 year 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 1 year ago. is the link

Expert:  PDtax replied 1 year ago.

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

Expert:  PDtax replied 1 year ago.

Hi again. PDtax here. Just following up.

If my answer met your needs, please rate my assistance when you accept my response. That closes out your inquiry, and credits me with assisting.