What constitutes negligence under section 6653(a)(1) of the Tax Code and what is the penalty?
MultiRegion, United States of America
The following excerpt is from Whatley v. C.I.R., 21 F.3d 1119 (9th Cir. 1994):
Under section 6653(a), negligence is "the lack of due care or the failure to do what a reasonable and prudent person would do under similar circumstances." Allen v. Commissioner, 925 F.2d 348, 353 (9th Cir.1991). Section 6653(a)(1) imposes a five percent addition to tax against a taxpayer when any part of an underpayment is due to negligence. Id. Prior to 1988, section 6653(a)(1) also imposed a penalty of fifty percent of the interest due on the underpayment. Id.
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