Please provide information to complete a minimum of 5 pages

While visiting a client to deliver their 2018 tax documents, one of the own approaches you and asks "my Brother In Law told me I didn't need to clai money as taxable if it was cash, so in my first year of business, which was 2014, I didn't claim $50,000 in cash I received. Is he right?" You tell the client "I will get back to you on that. I am going to go back to office and research the item. " When you get back to your office, you realize the client's gross income fo 2014 was $190,000. What will you tell your client? What laws govern this situation? What penalties are possible? Prepare your research in written form, ensuring you have cited the proper laws and regulations and have formatted your document according to AP