Penalties on accountants for wrongdoing in the preparation of tax returns are imposed by the
A)Internal Revenue Code.
B)Federal Bureau of Investigation.
C)Sarbanes-Oxley Act.
D)GAAP.

Question

Quizplus · Accepted Answer

Penalties on accountants for wrongdoing in the preparation of tax returns are imposed by the Internal Revenue Code. The Internal Revenue Code contains a substantial number of provisions that specify tax penalties for various violations of tax laws, including penalties for inaccurate tax returns, fraudulent tax returns, and failing to file tax returns. These penalties are enforced by the Internal Revenue Service (IRS).

Penalties on Accountants for Wrongdoing in the Preparation of Tax