Peter, a tax return preparer, was found to have taken an unreasonable position with respect to a client's prepared tax return that understated the taxpayer's tax liability, and the preparer should have known it was unreasonable. If the preparer's conduct was considered willful or reckless, for what minimum penalty, if any, would he be liable?\ (Search Chapter 8)\ a.

$250

\ b.

$530

\ c.

$1,000

\ d. Greater of

$5,000

or

75%

of income derived by preparer

93. Peter, a tax return preparer, was found to have taken an unreasonable position with respect to a client's prepared tax return that understated the taxpayer's tax liability, and the preparer should have known it was unreasonable. If the preparer's conduct was considered willful or reckless, for what minimum penalty, if any, would he be liable? (Search Chapter 8 ) a. $250 b. $530 c. $1,000 d. Greater of $5,000 or 75% of income derived by preparer 93. Peter, a tax return preparer, was found to have taken an unreasonable position with respect to a client's prepared tax return that understated the taxpayer's tax liability, and the preparer should have known it was unreasonable. If the preparer's conduct was considered willful or reckless, for what minimum penalty, if any, would he be liable? (Search Chapter 8 ) a. $250 b. $530 c. $1,000 d. Greater of $5,000 or 75% of income derived by preparer