For tax year 2016, the IRS assesses a deficiency against David for $500,000. Disregarding the interest component,

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For tax year 2016, 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 2020 Comprehensive

ISBN: 9780357109144

43rd Edition

Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman

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Question Posted: Sep 11, 2019 08:02 AM

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For tax year 2016, the IRS assesses a deficiency against David for $500,000. Disregarding the interest component,

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South-Western Federal Taxation 2020 Comprehensive

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