Yin-Li is the preparer of the Form 1120 for Cloves Corporation. On the return, Cloves claimed a deduction that the IRS later disallowed on audit. Compute the tax preparer penalty that could be assessed against Yin-Li in each of the following independent situations.
Definitions:
Res Ipsa Loquitur
A legal doctrine which allows plaintiffs to prove negligence on the basis of the very nature of an accident or injury occurring, suggesting the defendant's responsibility even without direct evidence of negligence.
Overpressurized
A state where pressure in a system exceeds its designed limits, potentially leading to failure or hazard.
Bottler
A company or entity that places beverages into bottles for distribution and sale.
Restatement Second Torts
A legal treatise that summarizes the general principles of American tort law, including definitions of torts and the standards of liability.
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