After auditing Jayne Morgan's 2018 Form 1040, the IRS assessed a $19,900 deficiency of income tax. Jayne's return reported $218,000 tax, her correct 2018 income tax was $237,900 ($19,900 deficiency + $218,000 reported tax). Compute Jayne's penalty for a substantial understatement of income tax.

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The Answer of After auditing Jayne Morgan's 2018 Form 1040, the IRS assessed a $19,900 deficiency of income tax. Jayne's return reported $218,000 tax, her correct 2018 income tax was $237,900 ($19,900 deficiency + $218,000 reported tax). Compute Jayne's penalty for a substantial understatement of income tax.

After Auditing Jayne Morgan's 2018 Form 1040, the IRS Assessed