What is the amount of the prepares penalty for understating of tax liability (willful or...
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Accounting
What is the amount of the prepares penalty for understating of tax liability (willful or reckless)?
$250 per violation up to a maximum of $25,500 per tax preparer.
$500 per violation with no limit per parpaer
. $1000 or 50% of the income the tax preparer receives with respect to the return whichever is greater.
$5000 or 50% of the income the tax preparer receives with respect to the return whichever is greater
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