LO.5 Emma files her income tax return 65 days after the due date of the return without

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LO.5 Emma files her income tax return 65 days after the due date of the return without obtaining an extension from the IRS. Along with the return, she remits a check for

$50,000, which is the balance of the tax she owes. Disregarding the interest element, what are Emma’s penalties for failure to file and for failure to pay?

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