For each of the following situations, indicate the nature and amount of the penalty that could be imposed. (The penalties include both tax practitioner penalties and taxpayer penalties). a. Kyle files his tax return on the original due date and pays the entire balance of tax due of $5,000. He did not pay any estimated tax during the year and had no withholding. His prior year tax return showed a tax liability of $12,000 (do not calculate the penalty). b. Drew writes a check for $300 in payment of his income taxes.Drew knows he does not have sufficient funds in his account to cover the check. c. Enrique has a $10,000 tax deficiency on his 2017 tax return due to civil fraud. d. Vladimir prepares a tax return for Oscar but does not keep a copy of the tax return.e. Friscilla, a self-employed accountant, prepares a tax return for Billy. She signs the return but does not include her preparer tax identi fication number on the tax return as required. f. Manny prepares a tax return for his client who requests that Manny disregard a current tax law which would increase his tax tax liability by $17,000. Manny agrees to do so since he oes not want to lose this important client. Description of the Penalty __________________
Definitions:
Glycolysis
A metabolic pathway that breaks down glucose to pyruvate, producing ATP and NADH, occurring in the cytoplasm of cells.
Glycolysis
The metabolic pathway that converts glucose into pyruvate, releasing energy and pyruvic acid as by-products.
Carbon Dioxide
Carbon dioxide is a colorless, odorless gas produced by burning carbon and organic compounds and by respiration. It is naturally present in air and is absorbed by plants in photosynthesis.
Cleavage of Glucose
The biochemical process of breaking down glucose molecules into smaller units, often occurring during glycolysis.