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Income Taxation Chapter 13

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Questions and Answers

What is the penalty equivalent to twenty-five percent of the amount due imposed for?

Filing a return with an internal revenue officer other than those with whom the return is required to be filed

Failure to file any return and pay the tax due (correct)

Failure to pay the deficiency tax within the time prescribed for its payment

Failure to pay the full or part of the amount of tax shown on any return

When will the penalty equivalent to twenty-five percent of the amount due be imposed?

Failure to pay the deficiency tax within the time prescribed for its payment

Failure to file any return and pay the tax due on the prescribed date (correct)

Filing a return with an internal revenue officer other than those with whom the return is required to be filed

Failure to pay the full or part of the amount of tax shown on any return

What action can result in the imposition of a twenty-five percent penalty?

Filing a return with an internal revenue officer other than those with whom the return is required to be filed

Failure to pay the full or part of the amount of tax shown on any return

Failure to pay the deficiency tax within the time prescribed for its payment

Failure to file any return and pay the tax due as required (correct)

In what case will a penalty equivalent to twenty-five percent of the amount due be imposed?

<p>Failure to file any return and pay the tax due as required</p> Signup and view all the answers

What results in the imposition of a penalty equivalent to twenty-five percent of the amount due?

<p>Failure to file any return and pay the tax due as required</p> Signup and view all the answers

Study Notes

Penalties for Non-Compliance

A penalty equivalent to twenty-five percent of the amount due is imposed for fraudulent failure to file tax returns, pay taxes, or willful attempt to evade tax laws.
This penalty is imposed when a taxpayer intentionally disregards tax laws and regulations, such as failing to file returns or making fraudulent claims.
The twenty-five percent penalty is triggered by intentional acts, including willful failure to pay taxes, making false statements, or hiding income.
The penalty is a consequence of deliberate actions that violate tax laws and regulations, demonstrating a reckless disregard for tax obligations.
Taxpayers who engage in fraudulent activities, such as filing false claims or hiding income, will be subject to the twenty-five percent penalty.
The penalty is applied to the amount due, which includes taxes, interest, and other charges owed to the government.

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Description

Test your knowledge of tax penalties with this quiz on Chapter 13 of income taxation. Explore penalties for late filing and tax due, including surcharges and civil penalties as per NIRC SEC. 248.