1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
trapecia [35]
3 years ago
14

In a criminal tax case, Darth Vader was charged with several counts of tax evasion and filing a false income tax return, stemmin

g from his diversion of funds from Jedi, Inc., a closely held corporation of which he was president, founder, and controlling shareholder. At trial, the U.S. sought to establish that Vader had received taxable income by systematically diverting funds from Jedi to support a lavish lifestyle. Vader gave millions of dollars of Jedi money to his mistress and millions of dollars to his wife, without reporting any of this money on his personal income tax returns. Vader siphoned off money primarily by writing checks to his employees and friends and having them return the cash to him, by diverting payments by Jedi customers, by submitting fraudulent invoices to Jedi and by laundering Jedi money through shell companies in Panama and St. Kitts-Nevis. In his defense, Vader sought to introduce evidence that Jedi had no retained earnings or current earnings or profits in the relevant taxable years. What result under §7201?
Business
1 answer:
Vitek1552 [10]3 years ago
7 0

Answer:

<em>Darth's response is not adequate as he has systemically illegitimately manipulated the Jedi's assets to evade taxes. Therefore all those funds in question will be taken into account when measuring Jedi's taxable income. </em>

It can be inferred after that that that the Jedi has some existing gain / retained earnings or not.

<em>When Darth considers himself guilty, he shall be liable for charges of fine, reward and prosecution under sec.7201.</em>

<em></em>

You might be interested in
“To persuade my audience that drinking and driving laws should be stricter” aims for:
ArbitrLikvidat [17]
The correct answer is B
7 0
2 years ago
Read 2 more answers
When will the Mini Toolbar appear?
nikitadnepr [17]

Answer:

It is C on edge 2021

Explanation:

5 0
2 years ago
Read 2 more answers
Transactions Falcon's Related Account 1. Falcon purchases common stock of Wildcat. Investment2. Falcon borrows from Wildcat by s
ludmilkaskok [199]

Answer:

1. Transaction will have effects on Balance Sheet in the Assets Section and will be classified as an Investing Activity in the Statement of Cash flows.

2. Transaction will have effects on Balance Sheet in the Liability Section and will be classified as a Financing Activity in the Statement of Cash flows.

3. Transaction will have effects on Income Statement in the Revenue Section and will be classified as an Operating Activity in the Statement of Cash flows.

4. Transaction will have effects on Income Statement in the Revenue Section and will be classified as an Operating Activity of the Statement of Cash flows.

5. Transaction will have effect on Income Statement in the Expense Section and will be classified as a Financing Activity in the Statement of Cash flows.

Explanation:

1. Falcon purchases common stock of Wildcat. This is classified in the investments tab of the assets account. This will be reflected in balance sheet. The transaction is classified in the investing activity.

2. Falcon borrows from Wildcat and signs Notes payable this will have effects in balance sheet liability account. This is financing activity.

3. Falcon receives Dividend revenue from Wildcat. This will be reflected in income statements as revenue. It will operating activity.

4. Falcon provides services to Wildcat , this is reflected in income statement as revenue. This will appear under operating activity.

5. Falcon pays interest on the borrowings to Wildcat. This is income statement items and is an expense. It belongs to financing activity.  

7 0
3 years ago
If Laura is aggressive and someone bumps into her, what is most likely her<br> response?
iren [92.7K]

Answer:

That she would be mad , hit them,

5 0
3 years ago
The seller agrees to sell the house to the buyer for $100,000. The buyer is unable to qualify for a mortgage loan for this amoun
LiRa [457]

Answer:

kill me

Explanation:

Touch and hold a clip to pin it. Unpinned clips will be deleted after 1 hour.Tap on a clip to paste it in the text box.ciirilix

8 0
3 years ago
Other questions:
  • Bedrock Company reported a December 31 ending inventory balance of $414,000. The following additional information is also availa
    8·1 answer
  • According to the job characteristics model, _____ refers to the job characteristic that reflects the degree to which a job allow
    15·1 answer
  • An improvement made to a machine increased its fair value and its production ca capacity by 25% without extending the machine's
    8·1 answer
  • Alpha Company is preparing its cash budget for the month of May. The company estimated credit sales for May at $200,000. Actual
    12·1 answer
  • Which statement is a PRIMARY characteristic of a capitalist system?
    12·2 answers
  • Why does an excise tax on gasoline exist? Check all that apply.
    7·1 answer
  • James is employed by a large corporation with 400 employees. The corporation provides its employees with a no-cost gym membershi
    9·1 answer
  • Whole foods differentiates itself from competitors by offering top-quality foods obtained through sustainable agriculture. this
    11·1 answer
  • Discuss how key practices in the partnering approach to managing contracted relationships vary from those in the traditional app
    9·1 answer
  • If the cpi was 240 in year 1 and 245.1 in year 2, what is the inflation rate between year 1 and year 2?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!