William, a Taxpayer, Timely Mailed His Tax Return

question 15

Multiple Choice

William, a taxpayer, timely mailed his tax return. However, it was returned for insufficient postage. IRS imposed a penalty. Can William claim waiver of penalty?

• A)Yes, William can claim waiver of penalty since it is his first tax return.
• B)Yes, William can claim waiver since the failure tofile tax return is due toa reasonable cause.
• C)No, William cannot claim waiver since it is a case of willful neglect.
• D)No, William cannot claim waiver of penalty as he is a delinquent taxpayer.

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Definitions:

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of values.

Distributions

Distributions describe how the values of a variable are spread or distributed across possible values.

Data

Information collected for analysis or reference.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values in the set deviate from the mean.