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A taxpayer is operating a sole proprietorship and pays ten different laborers on a contract...

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Accounting

A taxpayer is operating a sole proprietorship and pays ten different laborers on a contract basis a total of $24,000 during the year. He pays cash "under the table" and doesn't issue any Form(s)1099-MISC for this work. Which of the following penalties would most likely apply to this decision?
Select one:
a. Section 6702 Fraud
b. Section 6676(b) Excessive claims
c. Section 6651(a)(1) Failure to File
d. Section 6721 Failure to File Informational Statements

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