Asked by Paula marques on May 20, 2024

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Herb, an accountant, helps Industrial Company prepare and file a false federal corporate income tax return. Under the Internal Revenue Code, this is

A) a felony punishable by a fine and imprisonment.
B) no violation.
C) a misdemeanor punishable only by a fine.
D) a civil violation subject to a liability suit but not a crime.

Internal Revenue Code

The body of law governing federal tax administration in the United States.

Felony

A serious crime, typically involving violence, regarded as more severe than a misdemeanor, and generally punishable by imprisonment for more than one year or by death.

Misdemeanor

A criminal offense that is less serious than a felony and generally punishable by fines, penalties, or a short term in jail.

  • Describe the legal consequences of preparing or assisting in the preparation of false tax returns as stipulated by the Internal Revenue Code.
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Verified Answer

MJ
Michael JohnsonMay 20, 2024
Final Answer :
A
Explanation :
Preparing and filing a false federal corporate income tax return is considered a felony under the Internal Revenue Code, punishable by both a fine and imprisonment.