20. 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.

21. Joan filed her unextended 2020 tax return on November 15, 2021, paying the $5,000 amount due at that time. Joan 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.

22. Compute the applicable overvaluation penalty in the following situations: (a)John, a calendar-year taxpayer subject to a 34 percent marginal tax rate, claimed a charitable-contribution deduction of $15,000 for a sculpture that the IRS later valued at $10,000. (b)Samantha, a calendar-year taxpayer subject to a 34 percent marginal tax rate, claimed a charitable-contribution deduction of $170,000 for a sculpture that the IRS later valued at $100,000. (c)Susan, a calendar-year taxpayer subject to a 34 percent marginal tax rate, claimed a charitable-contribution deduction of $400,000 for a sculpture that the IRS later valued at $150,000. (d)Beth, a calendar-year taxpayer subject to a 34 percent marginal tax rate, claimed a charitable-contribution deduction of $600,000 for a sculpture that the IRS later valued at $100,000.

25. Compute the undervaluation penalty for each of the following independent cases involving the executors reporting of the value of a closely held business in the decedents gross estate. In each case, assume a marginal estate tax rate of 50 percent. Reported Value Corrected IRS Valuation a. $20,000 $25,000 b. 100,000 150,000 c. 150,000 250,000 d. 150,000 500,000

27. Compute Danas total penalties. She underpaid her tax by $50,000 as a result of negligence and by $150,000 as a result of civil fraud.