David files his tax return 45 days after the due date. Along with the return, David remits a check for $40,000 which is the balance of the tax owed. Disregarding the interest element, David's total failure to file and to pay penalties are: 
Definitions:
Key Stakeholders
Individuals or groups that have a significant interest in or are greatly affected by the outcome of an organization's actions, decisions, or policies.
Board of Directors
A group of individuals elected to represent shareholders and oversee the management and strategic direction of a company.
Top Executive Team
A group of the highest-ranking officers and decision-makers in an organization, responsible for strategic direction and overall management.
Careful Diagnosis
A thorough and meticulous assessment or analysis of a situation, problem, or condition before deciding on a course of action.
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