Rev. Rul. 2004-32, 2004-12 IRB 621, 3/1/2004 is about a.Possible criminal penalties for raising frivolous claims for expenses related to fictitious home-based businesses. b.Possible criminal penalties for claiming entitlement to a tax credit based on ethnic or racial classifications. c.Possible criminal penalties for taxpayers or preparers who claim that they have been “removed” or “redeemed” from the federal tax system. d.None of the above

Rev. Rul. 2004-32, 2004-12 IRB 621, 3/1/2004 is about a.Possible criminal penalties for raising frivolous claims for expenses related to fictitious home-based businesses. b.Possible criminal penalties for claiming entitlement to a tax credit based on ethnic or racial classifications. c.Possible criminal penalties for taxpayers or preparers who claim that they have been “removed” or “redeemed” from the federal tax system. d.None of the above

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter12: Tax Administration And Tax Planning

Section: Chapter Questions

Problem 12MCQ

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Which of the following statements NOT correct? a. If a taxpayer is not in agreement with the decision of the Tax Appeals Authority, there is no further action that the taxpayer can take. b. Where a taxpayer loss an appeal, the taxpayer is required to pay interest on the unpaid tax from the payment date statement on the Decision Notice. c. Tax planning within the confines of the tax laws is not illegal. d. Effective tax management may result in significant cost savings.
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