In the past 5 years, Chris Carter has owed somewhere between $3,500 and $4,200 each year on his income taxes. He is expecting that his 2021 taxes will be about the same. Carter chooses not to make installment payments for his 2021 taxes. Also, he does not file his 2021 taxes or pay the amount owing until June 30, 2022. What penalties and interest will be assessed for the 2021 tax year?

Also, what advice would you give Chris Carter if he decides to do the exact same thing for his 2022 taxes?

Answer rating: 100% (QA)

Most taxpayers receive their refunds within 21 days of filing If you choose to have your refund deposited directly into your account you may have to w... View the full answer