Maureen, a calendar year individual taxpayer, files her 2014 return on November 4, 2016. She did not
Question:
Maureen, a calendar year individual taxpayer, files her 2014 return on November 4, 2016. She did not obtain an extension for filing her return, and the return reflects additional income tax due of $15,000.
a. What are Maureen's penalties for failure to file and to pay?
b. Would your answer to (a) change if Maureen, before the due date of the return, had retained a CPA to prepare the return and it was the CPA's negligence that caused the delay? Explain.
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Step by Step Answer:
a The failure to file penalty cannot exceed a total of 25 C...View the full answer
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Related Book For 
South Western Federal Taxation 2016 Corporations Partnerships Estates And Trusts
ISBN: 9781305399884
39th Edition
Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young
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