Bob, a calendar year taxpayer, files his current year individual return on July 17 of the following

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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 and that any penalty period begins on April 16.

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Federal Taxation 2018 Comprehensive

ISBN: 9780134532387

31st Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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