On August 13 of the Following Year, Joy Files Her

question 54

Essay

On August 13 of the following year, Joy files her current calendar-year tax return and pays the amount due without having requested an extension. The tax shown on her return is $25,000. Her current-year withholding tax is $15,000. 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.

---

Definitions:

Episodes

Events or sequences of events that are significant enough to be remembered or notable in a narrative or series.

Insomnia

A common sleep disorder characterized by trouble falling asleep, staying asleep, or getting restorative sleep, leading to daytime dysfunction and distress.

Unable

Lacking the ability, means, or opportunity to do something.

Sleep

A naturally recurring state of rest for the mind and body, characterized by altered consciousness, relatively inhibited sensory activity, and inhibition of nearly all voluntary muscles.