Compute the Failure to Pay and Failure to File Penalties

question 108

Essay

Compute the failure to pay and failure to file penalties for John, who filed his 2010 income tax return on December 14, 2011, paying the $10,000 amount due. On April 1, 2011, John submitted a six-month extension of time in which to file his return; he paid no tax with the extension request. He has no reasonable cause for failing to file his return by October 15 or for failing to pay the tax that was due on April 15, 2011. John's failure to comply with the tax laws was not fraudulent.

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Definitions:

Consistently Linked

Being consistently linked refers to the repeated and dependable association between two or more factors or phenomena across various studies or analyses.

Bias in Employment

Refers to unfair and prejudiced treatment of individuals during hiring, promotion, or daily job activities based on characteristics such as race, gender, age, or sexual orientation.

Racial or Ethnic Differences

Variations in experiences, behaviors, health outcomes, and modes of social interaction that are influenced by race or ethnicity.

Risks

Potentials for loss, harm, or unwanted outcomes associated with certain actions or decisions.