" In addition, I noted to the PMC that Section 223 also required each agency to report to Congress by the spring of 1998 "on the scope of their program or policy, the number of enforcement actions against small entities that qualified or failed to qualify for the program or policy, and the total amount of penalty reductions and waivers.

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The amount of the penalty tax is the larger of a flat dollar amount or a percentage of household income.

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An analysis reveals that there is a significant relationship to the prison term given as compared to how people were situated in the case (plea, amount of assistance to government, penalty, whether they went to trial, amount of money involved, etc.).

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For example, you can withdraw the amount of any scholarships your child earns penalty-free or use the money for education expenses of a relative of the child if they decide not to go to school at all.

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Provide a check payable to the Department of Treasury in the total amount of tax, interest and accuracy-related penalty for the voluntary disclosure period.

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The penalty is a flat amount or a percentage of income, whichever is greater, and it phases in over three years.

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If a taxpayer is required to make electronic payments but pays by other means, FTB will assess a penalty equal to 1 percent of the amount paid.

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It also increases the cost of complying with the law as taxpayers seeking to avoid the penalty reach out to their tax advisors to compute the amount of each quarterly payment.

FORBES: California taps highest income taxpayers for more revenue

One of the many challenges is the various rules that restrict the amount of money that they can withdraw from a retirement plan that will not be subject to a penalty.

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