Clark, a professional tax return preparer, prepared and signed a client's federal income tax return that resulted in a $600 refund. Which one of the following statements is correct with regard to an Internal Revenue Code penalty Clark may be subject to for endorsing and cashing the client's refund check?
a. Clark may endorse and cash the check, without penalty, if Clark is enrolled to practice before the Internal Revenue Service.
b. Clark may not endorse and cash the check, without penalty, because the check is for more than $500.
c. Clark may endorse and cash the check, without penalty, if the amount does not exceed Clark's fee for preparation of the return.
d. Clark will be subject to the penalty if Clark endorses and cashes the check.
答案：D
Explanation
Choice "d" is correct. A tax preparer may not endorse and cash a client's tax refund check.
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