For Each of the Indicated Tax Penalties, Indicate the Appropriate

question 25

Multiple Choice

For each of the indicated tax penalties, indicate the appropriate taxpayer defense. A letter may be used more than once. Not all of the letters need be used.
-Failure to deposit withholding tax.

• A)Ignorance of the tax law
• B)Reasonable basis
• C)Reasonable cause
• D)Complexity of the tax law
• E)Substantial authority
• F)Disclosure on return

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Definitions:

Collective Bargaining Agreement

A contract negotiated by an employer and a labor union that covers all issues related to employment.

OSHA

The Occupational Safety and Health Administration, a U.S. government agency responsible for ensuring safe and healthy working conditions.

Department of Labor

A US government department responsible for occupational safety, wage and hour standards, unemployment insurance benefits, reemployment services, and some economic statistics.

Disclaimer

In employment law, a statement that regardless of provisions or policies in an employment handbook and regardless of oral promises to the contrary, an employment-at-will situation still exists between an employer and its employees. In the accounting profession, a statement declaring that an auditor has decided not to give any opinion on a firm’s financial records.