Question
Problem 12-9 Preparers, Proof, and Privilege (LO 12.5) For each of the following situations, indicate the amount of the penalty that could be imposed on
Problem 12-9 Preparers, Proof, and Privilege (LO 12.5)
For each of the following situations, indicate the amount of the penalty that could be imposed on the tax return preparer:
a. A tax return preparer understates the taxpayer's tax liability with a frivolous position and does not disclose the position. The greater of $ or percent of the income derived by the tax preparer for an undisclosed unrealistic position.
b. A tax return preparer fails to furnish his identifying number. $
c. A tax return preparer aids a taxpayer in understating a tax liability. $
d. A tax return preparer endorses and cashes a client's tax refund check. $
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