On July 25 of the Following Year, Joy Files Her

question 53

Essay

On July 25 of the following year, Joy files her current calendar-year tax return. She had requested extensions as required. On October 8, she pays the amount due. The tax shown on her return is $22,000. Her current-year withholding tax is $21,000. Joy pays no estimated taxes and does not claim any tax credits on her current-year return. Calculate the penalties that the IRS is likely to assess. Ignore the penalty for underpayment of estimated taxes. Assume she did not commit fraud.

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Definitions:

Temperamental Pattern

Refers to the foundational aspects of an individual's personality, such as their mood, activity level, and emotional reactivity, that are believed to be biologically based and remain relatively stable over time.

Difficult

Refers to something that is challenging or demanding effort, skill, or patience to be understood, achieved, or overcome.

Mixed Temperament

A psychological concept indicating a combination of different temperament types in one individual, affecting their behavior and reactions.

Temperament

Refers to the innate aspects of an individual's personality, including their mood, emotional reactivity, and habit of behavior.