Practice Quiz

RTRP - IRS Registered Tax Return Preparer Test

Category - Fundamental Forensic Knowledge

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If an underpayment of tax liability is established, then the fine imposed is based on:
  1. The amount of tax left unpaid
  2. The entire tax liability is considered for such purposes
  3. The underpayment of tax
  4. One-fourth of the amount underpaid
Explanation
Answer: B - In the case of underpayment, the entire tax liability is considered when imposing fines.
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