Amy

files her current year tax return on

August

13 of the following year. She pays the amount due without requesting an extension. The tax shown on her return is

$24,000.

Her current year wage withholding amounts to

$15,000.

Amy

pays no estimated taxes and claims no tax credits on her current year return.

Read the

requirements

a.	What penalties will the IRS likely impose on Amy (ignoring the penalty for underpayment of estimated taxes)? Assume Amy committed no fraud and that any penalty and interest period begins on April 16.
b.	On what dollar amount, and for how many days, will Amy owe interest?

.

Question content area bottom

Part 1

Requirement a. What penalties will the IRS likely impose on

Amy

(ignoring the penalty for underpayment of estimated taxes)? Assume

Amy

committed no fraud and that any penalty and interest period begins on April 16.

fill in the table below to show the penalties that the IRS will likely impose on

Amy.

(Complete all answer boxes.)

Minus:
Total penalties