Joan, a traveling sales representative, kept no formal books and records to summarize her gross receipts for

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Joan, a traveling sales representative, kept no formal books and records to summarize her gross receipts for the year, but she retained copies of all customer invoices and reported her gross income for the year from these totals. Is she liable for a negligence penalty under I. R. C. § 6662 for failing to keep any books and records?
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Federal Tax Research

ISBN: 9781285439396

10th Edition

Authors: Roby Sawyers, William Raabe, Gerald Whittenburg, Steven Gill

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