Which, If Any, of the Following Could Result in Penalties

question 18

Multiple Choice

Which, if any, of the following could result in penalties against an income tax return preparer? I. Knowing or reckless disclosure or use of tax information obtained in preparing a return.
II) A willful attempt to understate any client's tax liability on a return or claim for a refund.

• A)I only
• B)II only
• C)neither I nor II
• D)both I and II

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Definitions:

Input

Represents data or signals that are entered into a system for processing or analysis.

Processing

The execution of tasks by a computer or processing unit, often referring to the manipulation or transformation of data.

Output

In a general context, output refers to the result or product generated as a consequence of a process, system, or activity, which can be in the form of data, goods, or services.

Storage Activities

refer to the various procedures involved in storing data or information in a digital or physical format.