And if you look at Kenya, that's a gross misstatement of what's happening right now.
In general, a 20% penalty applies to tax underpayments attributable to a substantial valuation misstatement.
However, this penalty is doubled to a whopping 40% if there is a gross valuation misstatement.
As the scale of any misstatement or deception becomes clear, further heads may roll.
Do you think that that raises the possibility of any sort of fraud or criminal misstatement?
Among other taxes and penalties, the IRS imposed accuracy-related penalties, including the 40% gross valuation misstatement penalty.
Around 15% of respondents in Far East Asia think that financial performance misstatement can even be justified.
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The other court to similarly deny valuation misstatement penalties is the Fifth Circuit.
And of these employers, 57% said they automatically dismissed the applicant when they were caught in a lie or misstatement.
No accounting firm wants to be investigated or sued because of a financial misstatement, and restatements and investigations frequently result in a change in auditors.
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In the Amgen case argued last week, the Court considered whether plaintiffs seeking class certification in the securities setting must first show that a defendant made a material misstatement.
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You should ask yourself whether the misstatement was an inadvertent error or whether it signals some underlying flaw in the prosecution's case, some problem that they're trying to conceal.
CNN: Transcript: White House Counsel Ruff's opening statement
He's since said that was a misstatement, but I wonder if you can clarify what is the White House telling the millions of Toyota owners out there across the country to do?
WHITEHOUSE: Press Briefing by Deputy Press Secretary Bill Burton
Not only might the patentee inadvertently destroy his own patent, but his very act of making these kinds of statements could itself become a source of future litigation as accused infringers look for any misstatement.
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She later called the remark a "misstatement, " but it was literally a million-dollar mistake: Her Democratic opponent saw his bottom line grow so fast after liberal blogs pounced on the comment that he didn't have time to spend it all before the race ended.
Thus, IRS will continue to argue in appropriate cases, including those appealable to the Ninth Circuit, that the gross valuation misstatement penalty applies if an overvaluation is an integral part of a transaction, regardless of the grounds for disallowance of the related deduction or credit.
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