On August 13 of the Following Year, Joy Files Her

question 54

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. 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:

Shots

Informally refers to injections administered with a needle and syringe, typically containing medication or vaccines.

Gastroenteritis

An inflammation of the stomach and intestines, typically resulting from bacterial toxins or viral infections, causing vomiting, diarrhea, and abdominal pain.

Abdominal Cramping

Painful contractions or tightening in the abdomen, often associated with digestive or menstrual issues.

Cuspids

Another term for canine teeth, which are pointed, single-rooted teeth located in the mouth that play a role in grasping and tearing food.