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:

Cardiovascular Fitness

The ability of the heart, lungs, and vascular system to efficiently supply oxygenated blood to working muscles during physical activity.

Subcutaneous Tissues

The layer of tissue lying directly under the skin, consisting of fat and connective tissues that house larger blood vessels and nerves.

Abdomen

The part of the body containing the digestive organs, enclosed by the abdominal muscles and bounded by the pelvis and the thorax.