Craig commits fraud on his tax return. It is found that he was $40,000 deficient in his tax because of the fraud. What would his penalty be Da. $40,000 Ob. $500 Dc. so Od. $30,000
Craig commits fraud on his tax return. It is found that he was $40,000 deficient in his tax because of the fraud. What would his penalty be Da. $40,000 Ob. $500 Dc. so Od. $30,000
Chapter12: Tax Administration And Tax Planning
Section: Chapter Questions
Problem 3MCQ
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Transcribed Image Text:Craig commits fraud on his tax return. It is found that he was $40,000 deficient in his tax because of the fraud. What would his penalty be?
Oa. $40,000
Ob. $500
Oc. so
Od. $30,000
Transcribed Image Text:Which of the following is the most common type of audit for an individual taxpayer?
Oa. Correspondence audit
Ob. Telephone audit
Oc. Field audit
Od. Office audit
Oe. None of these choices are correct.
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