Question: Bob, a calendar year taxpayer, files his current year individual return on July 17 of the following year without having requested an extension. His return

Bob, a calendar year taxpayer, files his current year individual return on July 17 of the following year without having requested an extension. His return indicates an amount due of $5,100. Bob pays this amount on November 3 of the following year. What are Bob’s penalties for failing to file and failing to pay his tax on time? Assume Bob committed no fraud.

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