Every person who shall have in his custody or possession any goods, wares, merchandise, articles, or objects on which taxes are imposed by law, for the purpose of selling the same in fraud of the internal revenue laws, or with design to avoid payment of the taxes imposed thereon, shall be liable to a penalty of $500 or not less than double the amount of taxes fraudulently attempted to be evaded.
Structure US Code
Title 26— INTERNAL REVENUE CODE
Subtitle F— Procedure and Administration
CHAPTER 75— CRIMES, OTHER OFFENSES, AND FORFEITURES
§ 7261. Representation that retailers’ excise tax is excluded from price of article
§ 7262. Violation of occupational tax laws relating to wagering—failure to pay special tax
§ 7268. Possession with intent to sell in fraud of law or to evade tax
§ 7269. Failure to produce records
§ 7271. Penalties for offenses relating to stamps
§ 7272. Penalty for failure to register or reregister
§ 7273. Penalties for offenses relating to special taxes
§ 7275. Penalty for offenses relating to certain airline tickets and advertising