contestada

Joan filed her individual income tax return 4½ months after it was due. She did not request an extension of time for filing. Along with her return, Joan remitted a check for $750, which was the balance of the taxes she owed with her return. Disregarding interest, calculate the total penalties that Joan will be required to pay, assuming the failure to file was not fraudulent

Respuesta :

abiolataiwo2015

Answer:

$187.50

Explanation:

Calculation to determine the total penalties that she will be required to pay

Based on the information if she remitted a check for the amount of $750 the total penalties that she will be required to pay, if it was assumed that the failure to file was not fraudulent will be calculated as:

Total penalties=[$750*(5%*5)]

Total penalties=$750*0.25

Total penalties= $187.50

Therefore the total penalties that she will be required to pay is $187.50

Otras preguntas