Random Flashcards

(7 cards)

1
Q

Statutory notice of deficiency is a

A

90 day letter

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2
Q

Trust fund recovery penalty

A

100%

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3
Q

Failure to pay or file penalty

A

25%

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4
Q

Frivolous tax position penalty

A

20%

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5
Q

Trust fund recovery penalty was enacted to encourage

A

Collected excise tax

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6
Q

Irs must notify taxpayer in writing within how many days after filing lien

A

5 business days

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7
Q

Type of collection that allows irs to waive the 10 day period of notice and demand of tax

A

Jeopardy levy

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