During a Recent IRS Audit,the Revenue Agent Decided That Roger

question 70

Multiple Choice

During a recent IRS audit,the revenue agent decided that Roger used his closely-held corporation,Dodger Inc.,to avoid shareholder tax by accumulating earnings beyond the reasonable needs of the business.Dodger's taxable income for the year was $500,000 and it paid no dividends.Compute Dodger's accumulated earnings tax,assuming that it had accumulated $130,000 after-tax income in prior years.

• A)$0
• B)$100,000
• C)$76,000
• D)$50,000

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