Part a Linda filed her tax return 2 months late. The tax paid with the return amounts
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Part a Linda filed her tax return 2 months late. The tax paid with the return amounts to $3,000. What is Linda’s total penalty for failure to file and failure to pay, assuming the failure to file is not fraudulent?
$ ____________ Part b Kim underpaid her taxes by $10,000 due to negligence. What is Kim’s penalty for negligence?
$ ____________ Part c Using the same information in Part
b, what is the amount of the penalty if the underpayment were determined to be due to civil fraud?
$ ____________
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Related Book For
Income Tax Fundamentals 2011
ISBN: 9780538469197
29th Edition
Authors: Gerald E. Whittenburg, Martha Altus-Buller
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