John Forgot to File His Tax Return by April 15

question 8

Multiple Choice

John forgot to file his tax return by April 15.He did not file an extension.John finally filed his tax return on June 30 and had a remaining tax liability of $1,500.What is John's failure to file penalty? Assume he made all his payments on time.

• A)$375.
• B)$225.
• C)$233.
• D)$300.

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Definitions:

Lump-sum Merit

A one-time merit payment awarded to an employee instead of a permanent salary increase.

Base Salaries

The initial rate of compensation given to an employee, not including any extra benefits, bonuses, or raises, which serves as a foundational income.

Merit Raise

An increase in salary given to an employee based on their job performance, as a reward for their contributions to the organization.

Base Wage

The initial rate of compensation an employee receives, excluding overtime, bonuses, or other additional payments.