Jim received a six-month extension (to October 15, 2014) to file his 2013 tax return. Jim actually filed the return on October 20, 2014, paying the $ 20,000 amount due at that time. He has no reasonable cause for failing to file the return by October 15 or for failing to pay the tax that was due on April 15, 2014. Compute the failure-to-pay and failure-to-file penalties.
Answer to relevant QuestionsRegular full-time employees are allowed to represent certain organizations before the IRS without being a Circular 230 practitioner. Name the organizations that can be represented by full-time employees, and cite where you ...Joan filed her unextended 2014 tax return on November 15, 2015, paying the $ 5,000 amount due at that time. Joan has no reasonable cause for failing to file the return by October 15 or for failing to pay the tax that was due ...Kold Corporation estimates that its 2015 taxable income will be $ 900,000. Thus, it is subject to a flat 34 percent income tax rate and incurs a $ 306,000 tax liability. For each of the following independent cases, compute ...Butcher attended meetings of tax protestors for many years in which the constitutionality of the federal income tax and its means of collection were routinely challenged. Members of various protest groups were provided with ...What is an injunction, and when may the IRS seek an injunction?
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