Which statement is not correct regarding IRC Section 6694 preparer penalty provisions?

O Penalties may lead to an investigation by the IRS Office of Professional Responsibility.

O Penalties can be assessed on a practitioner when a disclosed tax position lacks a reasonable basis.

O Penalties can range from $50 to $200 if misconduct is found.

O Penalties may apply to the practitioner when the client's tax liability is understated.

Which statement is not correct regarding IRC Section 6694 preparer penalty provisions? Penalties may lead to an investigation by the IRS Office of Professional Responsibility. Penalies can be assessed on a practitioner when a disclosed tax position lacks a reasonable basis. 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