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:

Permission-Based Emails

Emails sent to individuals who have explicitly agreed to receive them, ensuring compliance with email marketing best practices and regulations.

Email Promotions

Marketing messages sent via email, aimed at informing recipients about goods, services, or events to encourage engagement or sales.

Reader Benefits

The advantages or positive outcomes that a reader can gain from engaging with a particular piece of writing.

Large Number Pads

Oversized numerical keypads designed to facilitate easier input of numbers, commonly found in devices requiring frequent number entry.