The taxpayer penalty for writing a check to pay for taxes that has insufficient funds is: a.

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The taxpayer penalty for writing a check to pay for taxes that has insufficient funds is:

a. The same amount the bank charges the IRS for a returned check

b. 5 percent of the amount of the total tax liability of the taxpayer

c. 2 percent of the amount of the check unless the check is for $1,250 or less

d. Double the check amount

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Income Tax Fundamentals 2023

ISBN: 9780357719527

41st Edition

Authors: Gerald E. Whittenburg, Steven Gill

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