Former Field Agent for Tribranch, a rival to the Bureau, but now convinced by 73-6 to work for the Bureau. Like all Tribranch agents, uses stims to enhance combat capabilities on-mission. The Bureau is trying to wean her off the stims, though she's stashed a few for emergencies.
Penalty for Substantial Understatement of Taxes. You understate your tax if the tax shown on your return is less than the correct tax. The understatement is substantial if it is more than the larger of 10 percent of the correct tax or $5,000 for individuals. For corporations, the understatement is considered substantial if the tax shown on your return exceeds the lesser of 10 percent (or if greater, $10,000) or $10,000,000.
Best Answer: General rule: Three years from the date the return was filed or three years from the due date whichever is later. Six years if your income is understated by 25% or more. This means income, not taxable income or tax due.The burden of proof is on IRS to show the understatement.No limit if there is fraud.ix years if your income is understated by 25% or more. This means income, not taxable income or tax due. The burden of proof is on IRS to show the understatement.