Match Each of the Following Penalties with the Rate for That

question 51

Short Answer

Match each of the following penalties with the rate for that penalty as specified by the Code.
a.$1,000 per violation
b.$500 per violation
c.$50 per violation
d.1/2% per month
e.5% per month
f.15% per month
g.5% of tax due
h.15% of tax due
i.20% of tax due
j.75% of tax due
-Fraudulent failure to file

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Definitions:

Marginal Benefit

The additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.

Marginal External Damages

Additional harm or cost imposed on society or a third party that is not accounted for by the producer or consumer of a good or service.

Marginal Social Cost

The total cost to society of producing an additional unit of a good or service, including both the cost to the producer and the cost to society of any environmental or other externalities.

Monopoly

Market with only one seller.