Which of the Following Statements Regarding Late Filing Penalties And/or

question 134

Multiple Choice

Which of the following statements regarding late filing penalties and/or late payment penalties is true?

• A)An extension of time to file the tax return protects a taxpayer from late payment penalties as long as the tax is paid by the extended due date of the return.
• B)The penalty rate for late filing penalties is less than the penalty rate for late payment penalties.
• C)If a taxpayer has not paid the full tax liability by the original due date of the return and the taxpayer has not filed a tax return by the due date of the return, the maximum late filing and late payment penalty will be no greater than the late filing penalty by itself.
• D)None of the choices are correct.

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Definitions:

Social Preconditions

Conditions or social factors that must exist within a society for certain developments, behaviors, or changes to occur.

Power Resource Theory

A theory in political sociology that suggests the balance of power between classes, and the social and political power they hold, shapes the nature of the state and public policies.

Elite Theory

Elite theory posits that a small minority, consisting of members of the economic elite and policy-planning networks, holds the most power, and that their power is independent of democratic elections.

Pluralist Theories

Frameworks suggesting society is comprised of diverse and competing interest groups with no single group dominating, leading to a balance of power.