Question: Which statement is accurate regarding IRC Section 6 6 9 4 preparer penalty provisions? Penalties may lead to an investigation by the United States Department

Which statement is accurate regarding IRC Section

6694

preparer penalty provisions?

Penalties may lead to an investigation by the United States Department of Justice. Penalties can range from $

50

to $

200

if misconduct is found. Penalties may apply to the practitioner when the client's tax liability is understated. Penalties can be assessed on a practitioner even if a disclosed tax position has a reasonable basis.

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