If a taxpayer fails to file return due to willful neglect, the minimum penalty is:
A) 25 percent or 5 months cumulative penalty
B) lesser of $ 125 or the full amount of taxes that are required to be shown on the return
C) 15 percent monthly penalty
D) lesser of $135 or the full amount of taxes that are required to be shown on the return

Question

Quizplus · Accepted Answer

According to the IRS, if a taxpayer fails to file a return due to willful neglect, the minimum penalty is the lesser of $135 or the full amount of taxes that are required to be shown on the return. Therefore, option D is the correct choice.

If a Taxpayer Fails to File Return Due to Willful