38 K ces Lionel has to pay a penalty for filing his taxes 6 months late. The...

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38 K ces Lionel has to pay a penalty for filing his taxes 6 months late. The IRS charges 2% in interest for each month the payment is late. What is the interest rate on an annual basis?

13%

26.82%

30.82%

126.82%

24.00%

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

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

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Posted Date: Feb 09, 2024 07:02 AM

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38 K ces Lionel has to pay a penalty for filing his taxes 6 months late. The...

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Income Tax Fundamentals 2013

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