When do interest payments begin to accumulate

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Reference no: EM132675744

Question 1: Can a taxpayer avoid an understatement penalty because of reliance on the advice of a tax professional?

Question 2: When do interest payments begin to accumulate? Can the IRS waive penalties? Interest liabilities?

Question 3: When a tax understatement is discovered, is the CPA obligated to inform the client? The IRS?

Reference no: EM132675744

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