Sentences with phrase «assessed serious penalties»

And, if you didn't report the income that was found to be rent and not a gift, on an income tax form, you would be assessed serious penalties and might even be charged with criminal tax evasion, since the sincerity of your gift would be in doubt.

Not exact matches

A non-serious violation can still cause a financial penalty of up to $ 1,000, but the inspector has the ability to assess no penalty at all, depending on the company's record and other violations.18 A serious violation can cost a company $ 1,500 to $ 7,000.