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:
“Rumble thy bellyful! Spit, fire! Spout, rain!
Nor rain, wind, thunder, fire are my daughters.
I tax you not, you elements, with unkindness;
I never gave you kingdom, called you children.”
—William Shakespeare (1564–1616)
“One of the great penalties those of us who live our lives in full view of the public must pay is the loss of that most cherished birthright of man’s privacy.”
—Mary Pickford (1893–1979)