Lorna Halls real estate tax of $2,010.88 was due on December 14, 2009. Lorna lost her job

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Lorna Hall’s real estate tax of $2,010.88 was due on December 14, 2009. Lorna lost her job and could not pay her tax bill until February 27, 2010. The penalty for late payment is 6 ½% ordinary interests.

a. What is the penalty Lorna must pay?

b. What is the total amount Lorna must pay on February 27?

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Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Question Posted: Apr 30, 2013 09:03 AM

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Lorna Halls real estate tax of $2,010.88 was due on December 14, 2009. Lorna lost her job

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Income Tax Fundamentals 2013

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