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All of the following federal income tax penalties are correct except: O There is a 5% penalty per month for failure to file. O There

All of the following federal income tax penalties are correct except: O There is a 5% penalty per month for failure to file. O There is a 0.5% penalty per month for failure to pay. O There is a 20% penalty for accuracy related errors. O There is a 20% penalty per month for fraud up to 100% of under payment

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