Kate Files Her Tax Return 36 Days After the Due

question 1762

Multiple Choice

Kate files her tax return 36 days after the due date. When she files the return, she sends a check for $2,000 which is the balance of the tax owed by her. Kate's penalty for failure to file a return will be

• A) 20% per month (or factor thereof).
• B) 0.5% per month (or factor thereof) up to a maximum of 25%.
• C) 5% per month (or factor thereof) up to a maximum of 25%.
• D) 25%.