Which of the following refers to the amount remaining after the standard or itemized deduction?

AGI.

Gross income.

Taxable income.

Net income.

Failure to file a tax return when you have earned taxable income as an employee

will result in a penalty from the IRS, even if it was an accident.

will not result in a penalty unless the IRS finds you guilty of committing fraud.

will not be known by the IRS.

both will not result in a penalty unless the IRS finds you guilty of committing fraud and will not be known by the IRS.