Criminal Fraud versus Civil Fraud and Taxation of U.S. Businesses Operating Abroad, assignment help

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Business Finance

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Criminal Fraud versus Civil Fraud and Taxation of U.S. Businesses Operating Abroad" Please respond to the following:

  • Imagine a situation in which a client under audit by the IRS omitted $100,000 in income. , examine the major factors relative to the omission by the client that would result in a criminal investigation, rather than a civil fraud proposal by the IRS.
  • Per the text, a U.S. parent company does not include the income of a foreign subsidiary until the income is repatriated as dividends. Defend the creation of foreign subsidiaries as a mechanism to defer income of major U.S. companies. Propose a new tax law that will benefit the U.S. Treasury from the deferral of income from foreign subsidiaries and encourage the repatriation of the previously deferred income.

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Explanation & Answer

please find the attached file. i look forward to working with you again. good bye

Running Head: TAXATION

Taxation
Name
Tutor
Institution
Course
Date

TAXATION
Taxation
Tax avoidance is legal and therefore a company would always look for means to reduce
tax liability. Tax evasion is what is illegal in every country. Every company and individuals have
a responsibility of disclosing all the sources of income. It is important to the tax authorities
where they can then tax the taxable income. Omission of incom...


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