Preparer Penalty for Willful Or Reckless Conduct

Preparer Penalty for Willful Or Reckless Conduct means:
a $1,000 penalty on a preparer for an understatement attributable to his or her willful attempt to understate a person's tax liability, or to the preparer's reckless, or intentional disregard of the tax laws or regulations. Former IRC (check if this IRC provision is current here) §6694(b).