Tax Adviser Penalties
Penalties also apply to persons who promote tax shelters or who fail to maintain and disclose lists of reportable transactions their customers or clients for those transactions. These monetary penalties can be severe.
Read more about this topic: IRS Penalties
Famous quotes containing the words tax and/or penalties:
“In 1845 he built himself a small framed house on the shores of Walden Pond, and lived there two years alone, a life of labor and study. This action was quite native and fit for him. No one who knew him would tax him with affectation. He was more unlike his neighbors in his thought than in his action. As soon as he had exhausted himself that advantages of his solitude, he abandoned it.”
—Ralph Waldo Emerson (1803–1882)
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—Robert M. Fresco, and Jack Arnold. Dr. Matt Hastings (John Agar)