Please answer as soon as possible Refer to Cox v. Commissioner and Larsen v. Commissioner...
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Accounting
Please answer as soon as possible
Refer to Cox v. Commissioner and Larsen v. Commissioner
These two cases involve tax returns that were audited because they were so blatantly screwed up to begin with. But even though both taxpayers ended up having to pay more tax, only one got stuck with the 6662 20% accuracy-related penalty. Compare and contrast these two taxpayers behavior and explain why, as to the penalty asserted by the IRS, one successfully defended against it while the other failed.
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