Jason is a new tax preparer. He knows that paid tax return preparers are required to exercise due diligence when preparing any client's tax return or claim for refund. All the following statements are true regarding due diligence, except: Select one: a. Failure to meet the requirements could result in a $540 penalty for each failure. b. Paid tax preparers must exercise specific due diligence when they prepare tax returns and claims for a refund involving the EIC, the CTC/ACTC/ODC, the AOTC, and/or HOH filing status to meet the due diligence requirements. X This answer is incorrect. This is a true statement. C. Tax preparers must ask adequate questions and obtain additional Information to determine whether the client is eligible for these credits and/or filing status. d. Failure to meet the requirements could result in a $540 penalty for each taxpayer