Question: need both A & B, thank you! Ms. Schmidt didn't request an extension of time to file a 2021 income tax return and didn't mail

Ms. Schmidt didn't request an extension of time to file a 2021 income tax return and didn't mail the completed return to the IRS until August 8, 2022. Ms. Schmidt enclosed a check for $1,490, the correct balance of tax due with the return. Required: a. Assuming that Ms. Schmidt can't show reasonable cause for filing a delinquent return, compute the late-filing and late-payment penalty. b. Compute the late-filing and late-payment penalty if the return was not malled until November 21. Complete this question by entering your answers in the tabs below. Assuming that Ms. Schmidt can't show reasonable cause for filing a delinquent return, compute the late-filing and latepayment penalty. Ms. Schmidt didn't request an extension of time to file a 2021 income tax return and didn't mail the completed return to the IRS until August 8, 2022. Ms. Schmidt enclosed a check for $1,490, the correct balance of tax due with the return. Required: a. Assuming that Ms, Schmidt can't show reasonable cause for filing a delinquent return, compute the late-filing and late-payment penalty. b. Compute the late-filing and late-payment penalty if the retum was not mailed until November 21 . Complete this question by entering your answers in the tabs below. Compute the late-filing and late-payment penalty if the return was not mailed until November 21. Note: Round your intermediate and final colculations to the nearest whole dollar amount
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
