Harrod underpaid her taxes for 2020 in the amount of $17,000, of which $9,500 is attributable to negligence. Harrod's negligence penalty is $fill in the blank 1. Assume the $9,500 is attributable to civil fraud instead of negligence. Harrod's fraud penalty is $fill in the blank 2

Harrod underpaid her taxes for 2020 in the amount of $17,000, of which $9,500 is attributable to negligence. Harrod's negligence penalty is $fill in the blank 1. Assume the $9,500 is attributable to civil fraud instead of negligence. Harrod's fraud penalty is $fill in the blank 2

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Tax Drill - Negligence Penalty

Harrod underpaid her taxes for 2020 in the amount of $17,000, of which $9,500 is attributable to negligence.

Harrod's negligence penalty is $fill in the blank 1.

Assume the $9,500 is attributable to civil fraud instead of negligence. Harrod's fraud penalty is $fill in the blank 2

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