On July 25 of the Following Year, Joy Files Her

question 53

Essay

On July 25 of the following year, Joy files her current calendar-year tax return. She had requested extensions as required. On October 8, she pays the amount due. The tax shown on her return is $22,000. Her current-year withholding tax is $21,000. 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:

Cognitive Intelligence

The ability of an individual to learn from experience, reason, remember important information, and cope with the demands of daily living.

Emotional Intelligence

The ability to recognize, understand, manage, and reason with emotions in oneself and others.

Emotional Labor

The process of managing feelings and expressions to fulfill the emotional requirements of a job.

Surface Acting

The process of externally displaying emotions or reactions that are not genuinely felt, often used in professional settings to meet job requirements.