For tax year 2012, the IRS assesses a deficiency against David for $500,000. Disregarding the interest component,

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For tax year 2012, the IRS assesses a deficiency against David for $500,000. Disregarding the interest component, what is David’s penalty if the deficiency is attributable to:

a. Negligence?

b. Fraud?

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South Western Federal Taxation 2016 Individual Income Taxes

ISBN: 9781305393301

39th Edition

Authors: James H. Boyd, William H. Jr. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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Question Posted: Sep 16, 2023 08:38 AM

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For tax year 2012, the IRS assesses a deficiency against David for $500,000. Disregarding the interest component,

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South Western Federal Taxation 2016 Individual Income Taxes

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