An individual files an income tax return for the calendar-year 2017 on September 20, 2018, and pays
Question:
An individual files an income tax return for the calendar-year 2017 on September 20, 2018, and pays $1,200, which is the balance of the tax due. Disregarding interest, how much in delinquency penalties would he have to pay?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
According to the Internal Revenue Service IRS website the failuretopay penalty for ...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
CCH Federal Taxation 2019 Comprehensive Topics
ISBN: 9780808049081
2019 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
Question Posted:
Students also viewed these Business questions
-
An individual files an income tax return for the calendar-year 2018 on September 20, 2019, and pays $1,200, which is the balance of the tax due. Disregarding interest, how much in delinquency...
-
Income tax return for the calendar year 2018 was due for filing on April 15, 2019. She failed to file her return on the due date and filed the same only on July 31, 2019. The tax due per return is...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-4. Ivan and Irene paid the following in 2012 (all by check or can otherwise be...
-
Value Mapping Use the attached information to map the current state map and future state map. Jack's Taxes Jack is a CPA and maintains a practice in personal, self-employed and small business income...
-
Why is it important to perform graphical as well as analytical analyses when analyzing relations between two quantitative variables?
-
Accounting for cost of sales in a manufacturing entity creates no more problems than those encountered in a retail entity. Discuss this statement.
-
Outline the principal responsibilities of audit committees and explain briefly how audit committees may help strengthen auditors' independence.
-
Transaction data for Sanculi Real Estate Agency are presented in E2-4. In E2-4, the following information relates to Sanculi Real Estate Agency. Oct. 1 Alan Sanculi begins business as a real estate...
-
At greater than the critical angle: Part of the light reflects back into the n medium, the remainder travels along the boundary between the two mediums. The light is absorbed by the surface of the...
-
Sandy had the following items on her timely filed 2017 income tax return: Sandy inadvertently omitted some income on her 2017 return. What is the statute of limitations if she omitted \(\$ 100,000\)...
-
Jim, a retail merchant, reported the following on his 2017 return: What amount must be omitted from income for the six-year statute of limitations to apply? Sales Cost of goods sold Gross profit...
-
1. Find the distance (in meters) traveled by a radio wave in 5.00 s. 2. Find the distance (in meters) traveled by a light wave in 6.40 s. 3. A television signal is sent to a communications satellite...
-
Consider the following maximum flow problem. (Arc capacities are shown.) 1 (a) Apply the Ford-Fulkerson algorithm to find a maximum s-t flow. Use the shortest augmenting path method to chose the...
-
What would be the independent and dependent variable in all four hypothesis? Hypothesis 1: Sleep quantity is positively associated with organizational citizenship behavior directed toward individuals...
-
Create a vector x = [0,10], Ax = 0.1. Save on HW{6} Create a vector g [0,2] that is linearly spaced and has 200 elements. Save on HW{7} Create a vector h E [1,200] that is logarithmically spaced and...
-
Explain factors affecting the global business environment. Discuss What is the impact of factors on national and multinational business organizations.
-
The 0.5-year and 1-year risk free spot interest rates are 5% and 6% per year. Assume semi-annual compounding. Compute the 0.5- and 1-year zero coupon bond prices that pays $1 face value at maturity.
-
After TNT Motor Express hired Joseph Bruce Drury as a truck driver, it ordered a background check from Robert Arden & Associates. TNT provided Drurys social security number and date of birth, but not...
-
Several months have passed and the Managing Partner approved and properly filed the Complaint and properly submitted the Request for Production of Documents that you drafted. In fact, it has been 75...
-
What is a stock redemption?
-
What is the corporation's basis in property received under Code Sec. 351?
-
Big Co. changed its tax year at midyear. It must annualize its short year to determine its tax liability. What does annualizing a short year mean?
-
BDD Inc. converted a $5,000 Accounts payable with a Notes payable on December 1, 2015. The note is a 60 day note with an interest rate of 4%. What is included in the year end journal entry? Debit to...
-
Given the function value of the acute angle, find the other five trigonometric function values. COS = 6 6
-
An airplane flying at an elevation of 3,500 ft., directly above a straight highway. Two motorists are driving cars on the highway on opposite sides of the plane. The angle of depression to one car is...
Study smarter with the SolutionInn App