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Upon audit of Mr. Tom Staton's 2019 Form 1040, the revenue agent determined that he understated his tax liability by $4,850. Required: a. Compute Mr.
Upon audit of Mr. Tom Staton's 2019 Form 1040, the revenue agent determined that he understated his tax liability by $4,850. Required: a. Compute Mr. Staton's penalty for substantial understatement if his correct tax liability for 2019 was $41,900. b. Compute Mr. Staton's penalty for substantial understatement if his correct tax liability for 2019 was $70,800. Complete this question by entering your answers in the tabs below. Required A Required B Compute Mr. Staton's penalty for substantial understatement if his correct tax liability for 2019 Penalty
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