John filed his 2021 income tax return on December 20, 2022, paying the $10,000 amount due...
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John filed his 2021 income tax return on December 20, 2022, paying the $10,000 amount due at that time. On April 1, 2022, John had received a six-month extension of time in which to file his return. He has no reasonable cause for failing to file his return by October 15 or for failing to pay the tax that was due on April 15. John's failure to comply with the tax laws was not fraudulent. Compute the failure to pay and failure to file penalties for John. Failure to pay penalty: $ Failure to file penalty: John filed his 2021 income tax return on December 20, 2022, paying the $10,000 amount due at that time. On April 1, 2022, John had received a six-month extension of time in which to file his return. He has no reasonable cause for failing to file his return by October 15 or for failing to pay the tax that was due on April 15. John's failure to comply with the tax laws was not fraudulent. Compute the failure to pay and failure to file penalties for John. Failure to pay penalty: $ Failure to file penalty:
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Solution Particulars Amount Failure to pay penality from April 2022 to december ... View the full answer
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
Posted Date:
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