Mr Beale Prepared and Signed His 2014 Tax Return on April

question 56

Essay

Mr. Beale prepared and signed his 2014 tax return on April 3, 2015. However, he carelessly forgot to mail the return until May 19. He enclosed his check for the $11,940 balance of tax due with the return. Compute Mr. Beale's late-filing and late-payment penalty.