Question

which of the following is not true regarding monetary penalties(fines) a. they can be imposed in...

which of the following is not true regarding monetary penalties(fines)
a. they can be imposed in addition to other snctions
b. they can be up to 100% of the income earned during the period of misconduct
c. they can also be imposed in a civil trial not associated with OPR
d. those who are sanctioned in only this manner can continue to prepare tax returns
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Answer #1

Ans.=

Option (A) is incorrect answer because monetary penalties can be imposed in addition to or instead of other sanctions.

Option (B) is incorrect answer as the monetary penalties can be upto 100% of the amount of gross income earned during the period of misconduct.

Option (C) is correct answer because monetary penalties cannot be imposed in a civil trial not associated with OPR. OPR can levy the sanctions only if the person falls under the jurisdiction of OPR.

Option (D) is incorrect answer because practitioners sanctioned in this manner is not allowed to practice for the duration of suspension. Such practitioner is not allowed to represent the clients before the IRS but can continue to prepare, or assist in preparing the tax returns.

=> I would be glad to receive a feedback or suggestion to the question answered above.

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