If the IRS can show that you were negligent in the preparation of your return or...

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If the IRS can show that you were negligent in the preparation of your return or if they can show that you committed an substantial understatement of income or overstatement of expenses, they can penalize you. What is the penalty called and what is the rate? O a. accuracy related penalty - 5% per month O b. understatement/overstatement penalty - 20% O c. failure to pay estimated tax 10% O d. accuracy related penalty - 20% O e. understatement/overstatement penalty - 5% per month If the IRS can show that you were negligent in the preparation of your return or if they can show that you committed an substantial understatement of income or overstatement of expenses, they can penalize you. What is the penalty called and what is the rate? O a. accuracy related penalty - 5% per month O b. understatement/overstatement penalty - 20% O c. failure to pay estimated tax 10% O d. accuracy related penalty - 20% O e. understatement/overstatement penalty - 5% per month