On his 2017 income tax return, Andrew omitted income and overstated deductions to the extent that his income tax was understated by $500,000. Disregarding any interest element, what is Andrew's penalty if the understatement was due to:
a.Negligence.
b.Civil fraud.
c.Criminal fraud.

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The Answer of On his 2017 income tax return, Andrew omitted income and overstated deductions to the extent that his income tax was understated by $500,000. Disregarding any interest element, what is Andrew's penalty if the understatement was due to:
a.Negligence.
b.Civil fraud.
c.Criminal fraud.

On His 2017 Income Tax Return, Andrew Omitted Income and Overstated