$24,750 Yukari steals $100,000 from her employer through a series of clever transactions during calendar year 2019. Hoping that she will not be discovered, she does not report this amount on her 2019 income tax return when she files it, although she does report her annual salary of $250,000. Should Yukari have reported the $100,000 in income, she would have owed an additional $33,000 in taxes. Two years later, the scheme is uncovered by the shrewd analysis of a new employee. $30,000 $75,000 $16,500 What is the penalty for the omission of the $100,000 of income? I DON'T ΚNOW YΕΤ
$24,750 Yukari steals $100,000 from her employer through a series of clever transactions during calendar year 2019. Hoping that she will not be discovered, she does not report this amount on her 2019 income tax return when she files it, although she does report her annual salary of $250,000. Should Yukari have reported the $100,000 in income, she would have owed an additional $33,000 in taxes. Two years later, the scheme is uncovered by the shrewd analysis of a new employee. $30,000 $75,000 $16,500 What is the penalty for the omission of the $100,000 of income? I DON'T ΚNOW YΕΤ
Chapter17: Tax Practice And Ethics
Section: Chapter Questions
Problem 26P
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Question
Transcribed Image Text:$24,750
Yukari steals $100,000 from her employer through a series of
clever transactions during calendar year 2019. Hoping that she
will not be discovered, she does not report this amount on her
2019 income tax return when she files it, although she does
report her annual salary of $250,000. Should Yukari have
reported the $100,000 in income, she would have owed an
additional $33,000 in taxes. Two years later, the scheme is
uncovered by the shrewd analysis of a new employee.
$30,000
$75,000
$16,500
What is the penalty for the omission of the $100,000 of income?
I DON'T KNOW YΕΤ
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