A taxpayer's return is audited and additional taxes are assessed. The IRS also asserts that a negligence penalty should be assessed. The taxpayer concurs with the additional $15,000 tax liability; $7,000 of this amount is attributable to negligence. What is the amount of the penalty for negligence?
A) $700
B) $1,400
C) $5,600
D) $1,750
B) $1,400
0.20 × $7,000 = $1,400
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Donna Carter goes from house-to-house in her neighborhood taking orders for Pampered Chef kitchen products. Donna's face-to-face sales with consumers are an example of:
A. detail selling. B. direct selling. C. sales engineering. D. wholesale selling. E. account representation.
Which of the following is a recognized advantage of an LLC?
A) Members are not personally liable for the LLC's debts and obligations. B) State LLC statutes are not uniform. C) A foreign LLC may not be treated the same as a domestic LLC. D) In a member-managed LLC, all decisions are made by a majority, which often causes delay in decision making.
How many slides do pitch decks need to have?
a. 5 b. 10 c. 25 d. There are no strict rules for pitch deck length.
Intangible assets such as copyrights and goodwill are not included on the balance sheet because
they are impossible to value objectively. Indicate whether the statement is true or false