The penalty for civil tax fraud is 75% of the taxes owed on unreported income.

FORBES: Expert View

Instigator of many offshore schemes was Burton W. Kanter, a Chicago attorney who was later slapped with a penalty for civil tax fraud.

FORBES: On The Cover/Top Stories

If they confess by Apr. 15, and rat out the promoters who helped them, the IRS won't recommend them for prosecution or hit them with the civil fraud penalty--equal to 75% of the evaded tax.

FORBES: Magazine Article