For Penalty Calculation, Amount of Tax Shown on Return Reduced by Credits, Tax Court Holds

The Tax Court held that the amount of tax shown on the taxpayers? return was reduced by refundable credits, but not below zero, for purposes of calculating the Sec. 6662(a) accuracy-related penalty.

Source: http://feedproxy.google.com/~r/AICPA_Tax/~3/eaHCs3ZUuLQ/20131119-1.aspx

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