Which One of the Following Statements Relating to Return Preparer's

question 3

Multiple Choice

Which one of the following statements relating to return preparer's penalties is incorrect?

• A)$1,000 penalty for willful understatement of tax liability, or for understatement of tax liability due to reckless or intentional disregard of the rules and regulations
• B)$50 penalty for failure to furnish a copy of the tax return to the taxpayer
• C)$50 penalty for failure to sign a tax return if prepared for compensation
• D)$50 penalty for failure to retain a copy or record of a return prepared for compensation

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Definitions:

Social Change

The transformation over time of cultural norms, societal structures, and patterns of behavior within a community or society.

Enact Change

The process of implementing significant alterations or transformations in society, organizations, or personal life through deliberate actions and strategies.

Lawnmower

A machine utilizing one or more revolving blades to cut a grass surface to an even height.

Acceptance

The act of agreeing to an offer, or the acknowledgment of a deal's terms, making it legally binding.