Which of the following is not a penalty that may be imposed by the IRS? a. Failure-to-file
Question:
Which of the following is not a penalty that may be imposed by the IRS?
a. Failure-to-file penalty
b. Failure-to-pay penalty
c. Penalty for negligence
d. Early filing penalty
e. All of the above may be imposed by the IRS
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (10 reviews)
D There is no penalty for fi ...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Income Tax Fundamentals 2023
ISBN: 9780357719527
41st Edition
Authors: Gerald E. Whittenburg, Steven Gill
Question Posted:
Students also viewed these Social Science questions
-
In the current year, Mary started a profitable housekeeping business as a sole proprietor. She has ten housekeepers working for her and spends her time selling their services and coordinating her...
-
Clippy Company was incorporated on January 1, 2020, it has 8,000 shares of common stock and 2,000 shares of non- cumulative preferred stock with 11% dividend rate and $70 par value. Clippy Company...
-
X and Y are partners sharing profit and losses at 2/5 and 3/5 respectively. They decided to admit Z as new partner. The new partner decides to pay OMR10,000 for his share of goodwill OMR10,000 to the...
-
Chambers Corporation purchased a piece of equipment for $36,000. It estimated a 6-year life and $6,000 salvage value. Thus, straight-line depreciation was $5,000 per year [($36,000 $6,000) 6]. At...
-
A hospital administration wants to estimate the mean time spent by patients waiting for treatment at the emergency room. The waiting times (in minutes) recorded for a random sample of 35 such...
-
You have been asked to select a 10 per cent sample of firms from the sampling frame used for self-check question 7.3. LO4 a Select a 10 per cent systematic sample and mark those firms selected for...
-
An increase in days sale outstanding __________ the firms liquidity position.
-
On January 1, 2016, DIBA Company had a balance of $450,000 in its Bonds Payable account. During 2016, DIBA issued bonds with a $200,000 face value. There was no premium or discount associated with...
-
Balance Shoet December 31, Year 1 Assets $ 118,180 Cash 8,940 7,800 Accounts receivable Prepaid rent 9,120 Unexpired insurance 610 Office supplies Rental equipment 211,200 Accumulated depreciation:...
-
Rocky RV Centers accounting records include the following accounts at December 31, 2024. Requirements 1. Journalize the required closing entries for Rocky. 2. Determine the ending balance in the...
-
Martha inadvertently failed to file her tax return for eleven months. The tax due on the return was $1,000. Her failure to file penalty will be: a. 55 percent of the tax due b. 25 percent of the tax...
-
Which of the following is not a source of information from which the IRS identifies possible audit targets? a. A computer scoring system that identifies possible errors on tax returns b. The client...
-
During 2017, Slivowitz Company exchanged \(\$ 1,700,000\) of its common stock for land. Indicate how the transaction would be reported on a statement of cash flows, if at all.
-
Brian is considering increasing the length of the cryptographic keys used by his organization. If he adds 8 bits to the encryption key, how many more possible keys will be added to the key space for...
-
Business law SECHON A [100 Marks] Read the scenario below then answer the questions that follow. Contracts are of critical importance especially in daily commercial and business transactions....
-
You may assume that the production costs to the winery are the same for each of the possible wines, despite the differences in volumes with some of the possible wines. Thus maximizing revenue will be...
-
You encounter a split system that uses R-22 refrigerant and observe the following refrigeration parameters from the unit's control display. The unit is operating in cooling mode. Suction pressure:...
-
A refrigerant at -20C is flowing through a 4" schedule 40 carbon steel pipe (inner diameter 102 mm, outer diameter 114 mm); the heat transfer coefficient for the refrigerant is 2500 W/m/K. It is...
-
For the line 2x + 3y, the x-intercept is _______ and the y-intercept is ________.
-
Inexhaustible collections of ONPOs are not required to be capitalized or depreciated, if certain criteria are met. Why is this so, and what accounting and reporting recognition, if any, is required...
-
Both spouses are responsible, jointly and individually, for paying the full amount of any tax, interest, or penalties due on a joint return. a. This does not apply to spouses who have divorced after...
-
A taxpayers rights are explained in: a. Publication 5 b. Publication 17 c. Publication 556 d. Publication 1 e. None of the above
-
Taxpayers have the right to have an IRS examination take place at: a. The IRS office b. Any city of the taxpayers choosing c. A neutral site d. A reasonable time and place e. None of the above
-
Imagine you are an Investor in the Stock Market. Identify three companies in the Korean Stock Market (KOSPI) where you would like to invest. Explain your answer
-
Domino is 4 0 years old and is married out of community of property with the exclusion of the accrual system to Dolly ( 3 5 ) . They have one child, Domonique, who is 1 1 years old. Domino resigned...
-
YOU ARE CREATING AN INVESTMENT POLICY STATEMENT FOR JANE DOE General: 60 years old, 3 grown children that are living on their own and supporting themselves. She is in a very low tax rate so we don't...
Study smarter with the SolutionInn App