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The U.S. Internal Revenue Code, 26 United States Code section 7201, provides: Sec. 7201. Attempt to evade or defeat tax Any person who willfully attempts in any manner to evade or defeat any tax imposed by this title or the payment thereof shall, in addition to other penalties provided by law, be guilty of a felony and, upon conviction thereof, shall be fined not more than $100,000 ($500,000 ...
The enactment ends with the approval (enactment) notation on page 929. Section 2(a) of the Tax Reform Act of 1986 changed the name of the Code from the "1954" Code to the "1986" Code. The Internal Revenue Code is also separately published as title 26 of the United States Code. [30]
The lettering and numbering of subtitles, sections, etc., was completely changed. For example, section 22 of the 1939 Code (defining gross income) was roughly analogous to section 61 of the 1954 Code. The 1954 Code replaced the 1939 Code as title 26 of the United States Code.
In particular, in the American legal system, tax evasion is a criminal action disciplined by 26 US Code §7201, [12] under which the taxpayer who fails to pay or willfully underpays his tax liability (i.e., with criminal mens rea like stated in the James v. United States) will undergo criminal penalties. On the other side of the coin, tax ...
Title 26, § 7201 of the United States Code: ... 1984, 1985 and 1986. He was also charged with tax evasion under 26 U.S.C. § 7201 for years 1980, 1981, and 1983. [5 ...
Federal excise taxes are imposed on a variety of goods and services. [26] Some of these taxes require purchase of tax stamps or other evidence of advance payment of tax. Some require collection of the tax by retailers. An assortment of penalties apply to manufacturers and retailers not complying with the particular rules. [27]
(ii) with intent to engage in conduct constituting a violation of section 7201 or 7206 of the Internal Revenue Code of 1986; or (B) knowing that the transaction is designed in whole or in part— (i) to conceal or disguise the nature, the location, the source, the ownership, or the control of the proceeds of specified unlawful activity; or
Corporate tax provisions are incorporated in Title 26 of the United States Code, known as the Internal Revenue Code. The present rate of tax on corporate income was adopted in the Tax Reform Act of 1986. [15] In 2010, corporate tax revenue constituted about 9% of all federal revenues or 1.3% of GDP. [16]