Alexi files her tax return 20 days after the due date. Along with the return, she remits a check for $3,000, which is the balance of the tax she owes. Disregarding any interest liabilities, compute Alexi's total penalties for this period.
Answer to relevant QuestionsRivera underpaid her income tax by $45,000. The IRS can prove that $40,000 of the underpayment was due to fraud. Determine Rivera's civil fraud penalty. Olivia, a calendar year taxpayer, does not file her 2015 Form 1040 until December 12, 2016. At this point, she pays the $40,000 balance due on her 2015 tax liability of $70,000. Olivia did not apply for and obtain any ...Singh, a qualified appraiser of fine art and other collectibles, was advising Colleen when she was determining the amount of the charitable contribution deduction for a gift of sculpture to a museum. Singh sanctioned a ...On April 3, 2013, Luis filed his 2012 income tax return, which showed a tax due of $75,000. On June 1, 2015, he filed an amended return for 2012 that showed an additional tax of $10,000. Luis paid the additional amount. On ...You overhear Matheus say, "I am so glad to be divorced from my cheating wife Larissa. She keeps two sets of books in her design business, and I wish the IRS would find out about it." Is Matheus a candidate for the informant ...
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