(a)    Subject to the hearing provisions of § 21–312 of this subtitle, the Board, on the affirmative vote of a majority of its members then serving, may deny a registration to any applicant, reprimand any registered individual, or suspend or revoke a registration if the applicant or registered individual:

(1)    fraudulently or deceptively obtains or attempts to obtain a registration for the applicant or registered individual or for another;

(2)    fraudulently or deceptively uses a registration;

(3)    under the laws of the United States or of any state, is convicted of a felony or a misdemeanor, either of which is directly related to the fitness and qualification of the applicant or registered individual to provide individual tax preparation services;

(4)    is guilty of negligence, incompetence, or misconduct while providing individual tax preparation services;

(5)    violates any regulation adopted under this title; or

(6)    violates any provision of this title.

(b)    (1)    In addition to reprimanding or suspending or revoking a registration under this subsection, the Board may impose a penalty not exceeding $5,000 for each violation.

(2)    To determine the amount of the penalty imposed under this subsection, the Board shall consider:

(i)    the seriousness of the violation;

(ii)    the harm caused by the violation;

(iii)    the good faith of the registered individual; and

(iv)    any history of previous violations by the registered individual.

(3)    The Board shall use a penalty collected under this subsection to provide for the enforcement of this section.