Jim received a six-month extension (to October 15, 2021) to file his 2020 tax return. Jim actually

Question:

Jim received a six-month extension (to October 15, 2021) to file his 2020 tax return. Jim actually filed the return on October 20, 2021, paying the $20,000 amount due at that time. He has no reasonable cause for failing to file the return by October 15 or for failing to pay the tax that was due on April 15, 2021. Compute the failure-to-pay and failure-to-file penalties.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Federal Tax Research

ISBN: 9780357366387

12th Edition

Authors: Roby Sawyers, Steven Gill

Question Posted: