The IRS Who Audited Mr Kodak's 2015 Form 1040 Assessed

question 75

Multiple Choice

The IRS who audited Mr Kodak's 2015 Form 1040 assessed an $87,400 deficiency. If the agent believes that the entire deficiency was caused by Mr Kodak's willful attempt to cheat the government, compute the resulting civil fraud penalty. 

• A) $17,480
• B) $21,850
• C) $65,550
• D) None of the above

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Definitions:

Metal

A class of elements characterized by their malleability, conductivity, and metallic luster, typically solid under standard conditions.

Electrolysis

The decomposition of a chemical compound or metals caused by an electric current.

Separating Elements

Components or techniques used in systems and processes to divide, isolate, or detach different substances or parts.

Electrically

Pertaining to or operated by electricity; involving, derived from, or related to electricity.