Question: Mrs . Fugate failed to include $ 2 8 , 0 0 0 lottery winnings on a 2 0 2 3 Form 1 0 4

Mrs. Fugate failed to include $28,000 lottery winnings on a 2023 Form 1040. The only gross income reported was $78,000 salary. Mrs. Fugate filed the return on January 19,2024.
Required:
What is the last date on which the IRS can assess additional tax for 2023?
Assume Mrs. Fugate also reported $37,500 in dividend income. What is the last date on which the IRS can assess additional tax for 2023?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Problem 1 8 - 1 1 ( Algo ) [ LO 1 8 - 3 ] Mrs . Fugate failed to include $ 2 0 , 6 5 0 lottery winnings on a 2 0 2 2 Form 1 0 4 0 . The only gross income reported was $ 7 8 , 2 0 0 salary. Mrs ....

Q:

Mrs . Fugate failed to include $ 2 8 , 0 0 0 lottery winnings on a 2 0 2 2 Form 1 0 4 0 . The only gross income reported was $ 7 8 , 0 0 0 salary. Mrs . Fugate filed the return on January 1 9 , 2 0 2...

Q:

Mrs. Fugate failed to include $28,000 lottery winnings on her 2017 Form 1040. The only gross income she reported was her $78,000 salary. She filed her return on January 19, 2018. a. What is the last...

Q:

Mrs. Fugate failed to include $29,700 lottery winnings on her 2020 form 1040. The only gross income she reported was her $82,600 salary. She filed her return on January 19, 2021. Required: What is...

Q:

I need help!!! This is the fourth part of a six part problem that will allow you to prepare the 2014 tax return for Laurie and Lynn Norris. As with the previous parts, this part of the problem will...

Q:

I need help!!! This is the second part of a six part problem that will allow you to prepare the 2014 tax return for Laurie and Lynn Norris. As with the previous parts, this part of the problem will...

Q:

Please answer questions 5-8 Chapter 10: Learning Activity Scenario 1 Wesley and Anne Wesley has been divorced from Anne for six months. They have not lived together for two years. Prior to their...

Q:

Please only leave the answers for the boxes with X's. Note: This problem is for the 2018 tax year. Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works...

Q:

I would like to do my NFP project onUnited States Fund for United Nations Children's Fund Prepare an executive summary paper on the Form 990 to include the following: a. A brief overview of your...

Q:

Instructions Note: This problem is for the 2019 tax year. Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. tance works for the convention bureau of the local...

Q:

List the components of GDP in the output (expenditures) approach. 2. Please calculate the growth rate based on the following information: U.S. GDP 2023 = 19.1 trillion dollars U.S. GDP 2022 = 18.8...

Q:

In the circuit in figure, use Laplace transforms to find the current I(s). Assume zero initial conditions and that vs(t) = 4 cos tu(t). 1H i(t) v,() 2s a. s2 + 4s + 5 4s2 b. (s + 1)(s + 2s + 4) 2s2...

Q:

The cost of a holiday is $200 for travel plus $150 per night for a hotel. a Work out the cost of a 7-night holiday. b A holiday that lasts n nights costs $c. Write a function for c in terms of n.

Q:

HIM 3550 What is the value of using datasets like this and what informative analysis could a facility perform using this data