On August 13 of the Following Year, Joy Files Her

question 42

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. Will Joy owe interest, and if so, on what amount and for how many days?

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Definitions:

Variable

An element, feature, or factor that is liable to vary or change.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values from their mean.

Scores

Numerical data representing individual performance or achievement in a test, assessment, or experimental condition.

Average Deviation

The average difference between each data point in a set and the mean of that set.