Economics lan is the dim-witted buyer of a partnership interest in a company buying structured foreign tax credits. Ann, an accounting student, is an unwilling accomplice in a brochure misstating partnership tax consequences. Please identify what major tax penalties in the code could apply to lan and Ann.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Economics
lan is the dim-witted buyer of a partnership
interest in a company buying structured foreign
tax credits. Ann, an accounting student, is an
unwilling accomplice in a brochure misstating
partnership tax consequences.
Please identify what major tax penalties in the
code could apply to lan and Ann.
Transcribed Image Text:Economics lan is the dim-witted buyer of a partnership interest in a company buying structured foreign tax credits. Ann, an accounting student, is an unwilling accomplice in a brochure misstating partnership tax consequences. Please identify what major tax penalties in the code could apply to lan and Ann.
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