Peter Forgot to File His Tax Return by April 15

question 21

Multiple Choice

Peter forgot to file his tax return by April 15.He did not file an extension.Peter finally filed his tax return on July 31 and had a remaining tax liability of $3,500.What is Peter's failure to file penalty? Assume he made all his payments on time.

• A)$525.
• B)$875.
• C)$700.
• D)$350.

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Definitions:

Fluid Ounce

A unit of volume used primarily in the United States to measure liquids, equivalent to approximately 29.57 ml.

Fl Oz

A unit of volume measurement equal to one fluid ounce, commonly used in the United States.

1/1,000,000

A mathematical fraction denoting one part per million (ppm), often used to measure concentration levels in chemistry and environmental science.