Identify Which of the Following Statements Is False

question 84

Multiple Choice

Identify which of the following statements is false.

• A)In addition to interest, taxpayers may be subject to penalties for failure to file on time and failure to pay taxes by the due date for the return.
• B)The failure-to-file penalty is levied against taxpayers who do not file a return by its due date at a rate of 5% per month (or fraction of a month)with a maximum additional penalty of 25%.
• C)The failure-to-pay penalty is imposed at a rate of 5% per month (or fraction of a month)with a maximum penalty of 25%.
• D)A different interest rate is charged to corporate and noncorporate taxpayers.

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Definitions:

Annual Rates

The interest rate for a period of one year, often used in contexts such as loans or investments.

Diesel Fuel

A type of fuel derived from petroleum, used primarily in diesel engines, which are known for their efficiency and power.

Liter

A metric unit of volume equal to one cubic decimeter, used to measure liquids and other volumetric quantities.

Intentional Torts

Deliberate acts committed by an individual that cause harm or injury to another person, leading to civil liability.