When a Taxpayer Fails to Pay the Tax Owed at the Time

question 4

Multiple Choice

When a taxpayer fails to pay the tax owed at the time it is due, a penalty is imposed; the penalty is normally one-half of one percent of the net tax due for each month the tax is not paid.In what situation may the penalty be increased to one percent per month?

• A)If the taxpayer moves out of the country
• B)If the IRS notifies the taxpayer of its intent to levy on the taxpayer's assets
• C)If the taxpayer is found guilty on a drug charge
• D)If the IRS perceives that the taxpayer's nonpayment is intentional fraud
• E)Any one of the above situations

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