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What is the penalty for a fraudulent failure to file a returrn? A. 5% per month...

What is the penalty for a fraudulent failure to file a returrn?

A. 5% per month with a maximum penalty of 25%.

B. 10% per month with a maximum penalty of 50%

C. 15% per month with a maximum penalty of 75%

D. 20% per month with a maximum penalty of 100%

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Answer #1

Answer:C. 15% per month with a maximum penalty of 75%

If you filed a return late (more than 60 days old), or you did not file, and the IRS can prove it was “fraudulent” or that you did not file to evade taxes, then, you could be facing a stiffer Failure to File Penalty. Instead of incurring the normal 5% per month penalty on the amount owed, you would be facing a 15% percent per month penalty with a maximum 75% total penalty. If you experience a Fraudulent Failure to File Penalty and Failure to Pay Penalty in the same month, the former is reduced by .5%.

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