answer

Question 49 of 50.

Max, a self-employed taxpayer, did not have all the information he needed to timely file his 2020 tax return by May 17, 2021. Although he requested an automatic extension, he did not include a payment when he filed

the extension. He then filed his return ten days later, on May 27, 2021, reporting a $950 balance due. How much must Max pay in failure-to-file and failure-to-pay penalties?

O No failure-to-file penalty or failure-to-pay penalty will apply.

O His failure-to-file penalty is $0, but he has a failure-to-pay penalty of 0.5% of his unpaid tax.

His failure-to-file penalty is 5% of his unpaid tax. He also has a failure-to-pay penalty of 0.5%, for an overall total of 5.5%.

O He has a $435 failure-to-file penalty plus an additional penalty of 0.5%, applied to his unpaid tax.

Question 49 of 10 Max, well employed to payer, td not have all the information he made to timer i 200 return to May 11, 2011. A requesteden automate contenu deyment when the the extension. He then this return ten days later, on May 27,201.porting balanced. How much must expay in fature-to-file and wore to get No failure of penalty or blue-to-pay penally wil apply Het die prentis 50, but he usataluro-pay penalty 0.6% of his unpaid tax His failure-to-fie penalty is of unpaid tar Hewasa fare-to-pay party at 0.8% an overtoo 5.1 He has 35 tur.dc-fie penalty plus an adonal penalty of applied to this padas