The total penalty for failure to file may not exceed a certain percentage of the net tax due.That amount is
A)10 percent compounded
B)15 percent
C)20 percent
D)25 percent
E)20 percent compounded

Question

Quizplus · Accepted Answer

The total penalty for failure to file a tax return by the due date, including extensions, may not exceed 25 percent of the net tax due. This is a cumulative penalty that increases over time until it reaches the maximum limit.

The Total Penalty for Failure to File May Not Exceed