Without Obtaining an Extension, Pam Files Her Income Tax Return

question 44

Essay

Without obtaining an extension, Pam files her income tax return 55 days after the due date. With her return, she pays an additional tax of $60,000. Disregarding any interest element, what is Pam's penalty for failure to pay and to file?

---

Definitions:

Contingency Workers

Workers employed on a non-permanent basis, such as freelancers, consultants, or contract workers, often without the same job security and benefits as full-time employees.

Permanent Workforce

Employees who are hired on a long-term basis with no predetermined end date for their employment.

Telecommuting

Working from a location outside of a traditional office environment, typically from home, enabled by telecommunications technology.

Increased Productivity

Refers to the efficiency of production within an organization, aiming for higher output with the same or fewer resources.