Frederick Failed to File His 2017 Tax Return on a Timely

question 33

Essay

Frederick failed to file his 2017 tax return on a timely basis.In fact,he filed his 2017 income tax return on October 31,2018,(the due date was April 17,2018) and paid the amount due at that time.He failed to make timely extensions.Below are amounts from his 2017 return:

Frederick sent a check for $1,582 in payment of his liability.He thinks that he has met all of his financial obligations to the government for 2017.For what additional amounts may Frederick be liable assuming any applicable interest rate is 6%?

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Definitions:

Great Britain

A country located off the northwestern coast of mainland Europe comprising England, Scotland, Wales, and Northern Ireland, known for its influential role in global politics, economics, and culture.

Economic Interests

Concerns or investments that involve the financial well-being of individuals, groups, or nations, including trade, resources, and markets.

Expansionist Foreign Policy

A strategy by a country to increase its power and territory through acquisition or diplomatic efforts.

Late Nineteenth Century

The period from 1871 to 1900, marked by significant industrial, social, and political changes worldwide, including the Second Industrial Revolution and the height of the British Empire.