2.93 False Statements on Income Tax Return / 26 U.S.C. Sec. 7206(1) is a criminal offense under federal law. It involves a taxpayer making a false statement or representation on an income tax return or other document submitted to the Internal Revenue Service. This includes statements or representations that are false as to any material matter, fraudulent or misleading. The potential penalties for violating 26 U.S.C. Sec. 7206(1) include a fine of up to $250,000 and/or imprisonment of up to 3 years. Types of 2.93 False Statements on Income Tax Return / 26 U.S.C. Sec. 7206(1) include: • Omitting or understating income • Overstating or claiming false deductions • Making false statements or representations on a return or other document • Claiming false exemptions or credits • Claiming false losses
2.93 False Statements on Income Tax Return / 26 U.S.C. Sec. 7206(1) is a criminal offense under federal law. It involves a taxpayer making a false statement or representation on an income tax return or other document submitted to the Internal Revenue Service. This includes statements or representations that are false as to any material matter, fraudulent or misleading. The potential penalties for violating 26 U.S.C. Sec. 7206(1) include a fine of up to $250,000 and/or imprisonment of up to 3 years. Types of 2.93 False Statements on Income Tax Return / 26 U.S.C. Sec. 7206(1) include: • Omitting or understating income • Overstating or claiming false deductions • Making false statements or representations on a return or other document • Claiming false exemptions or credits • Claiming false losses
