Wilma prepared and signed a 2022 return for Moe, a client for the last five years. Barney and Betty helped her prepare the return. She noticed that a dividend statement from Pipeline Corp. was missing and asked Moe about it. He found it and gave it to Wilma, and she completed the return. Moe indicated that there was no other income. One year later, he received a letter from IRS indicating that he had understated income by not including retirement income from an IRA withdrawal on his 2022 return. Moe did not withdraw from that IRA account in 2021. Will any preparer(s) be subject to a Section 6694 penalty for understatement of tax liabilities?

a) Wilma, Barney, and Betty will all be subject to a Section 6694 penalty.

b) Only Wilma would be subject to a Section 6694 penalty.

c) Wilma would receive a Section 6694 reprimand from the IRS.

d) The Section 6694 penalties will not be applicable because the preparer made all

reasonable inquiries.