Which of the Following Statements Regarding Late Filing Penalties And/or

question 154

Multiple Choice

Which of the following statements regarding late filing penalties and/or late payment penalties is true?

• A) An extension of time to file the tax return protects a taxpayer from late payment penalties as long as the tax is paid by the extended due date of the return.
• B) The penalty rate for late filing penalties is less than the penalty rate for late payment penalties.
• C) If a taxpayer has not paid the full tax liability by the original due date of the return and the taxpayer has not filed a tax return by the due date of the return, the maximum late filing and late payment penalty will be no greater than the late filing penalty by itself.
• D) None of these

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Definitions:

Evaluating Performance

The process of assessing the effectiveness and efficiency of employees or processes within an organization, often for the purpose of making informed management decisions.

Specific Behaviors

Distinctive actions or conduct of individuals that are observable and measurable, often used as criteria for performance evaluations or research studies.

Ethical

Pertaining to or dealing with morals or the principles of morality; concerning right and wrong behavior.