Which of the following is NOT a consequence of not complying with IRS rules?

Prepare for the Bank Compliance Training Exam. Study with practice tests and multiple-choice questions. Discover key concepts and sharpen your skills. Excel in your exam!

In the context of IRS compliance, failing to adhere to the established rules can lead to a variety of negative outcomes. One of the listed consequences, increased filing speed for returns, does not align with the repercussions of noncompliance. Instead, noncompliance typically results in issues that slow down or complicate the filing process.

When institutions or individuals do not comply with IRS regulations, they may face suspension from tax programs, which restricts their ability to participate in certain benefits or programs. Additionally, potential fines imposed by the IRS serve as a punitive measure to encourage adherence to tax laws. Furthermore, disqualification from e-filing can arise as a consequence, limiting the avenues available for filing tax returns.

In summary, increased filing speed is not a consequence of noncompliance; rather, noncompliance usually leads to delays, complications, and a series of penalties designed to enforce IRS regulations.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy