On July 25 of the Following Year, Joy Files Her

question 33

Essay

On July 25 of the following year, Joy files her current calendar-year tax return without having requested an extension. On October 8, she pays the amount due. The tax shown on her return is $25,000. Her current-year withholding tax is $20,000. 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:

Threat

A statement or action indicating the intention to cause harm or danger to someone or something.

Appeal to Emotion

A logical fallacy that uses the manipulation of emotions rather than valid reasoning to persuade.

Fallacy

A misleading or incorrect argument or reasoning, especially one based on unsound principles or logic.

Slavery

A system where individuals are owned by others, deprived of personal freedom and forced to perform labor or services without consent.