Which of the Following Statements Regarding Late Filing Penalties Is

question 167

Multiple Choice

Which of the following statements regarding late filing penalties is true?

• A)If a taxpayer fails to file a tax return, the late filing penalty will continue to grow until the taxpayer files the tax return.
• B)The amount of the late filing penalty is the same for both fraudulent failure to file and nonfraudulent failure to file.
• C)Taxpayers who owe no tax as of the due date of their tax returns are not subject to late filing penalties even if they file late.
• D)None of the choices are correct.

---

Definitions:

1933 Act

The Securities Act of 1933, a U.S. law aimed at ensuring more transparency in financial statements so investors can make informed decisions about securities investments.

Regulatory Components

Elements or aspects of laws, regulations, or guidelines that impact how businesses and individuals must conduct themselves.

Registration Provisions

Legal requirements for the recording or listing of an item, transaction, or entity with a designated authority to make it legally recognizable and/or to regulate it.

Rule 163

Without a specific context, this refers to a regulatory or procedural guideline within a particular legal, financial, or institutional framework that may differ significantly in content across contexts.