Question
In 2017, Andrew, who is single, has a comfortable salary from his job as well as income from his investment portfolio. However, he is habitually
In 2017, Andrew, who is single, has a comfortable salary from his job as well as income from his investment portfolio. However, he is habitually late in filing his federal income tax return. He did not file his 2017 income tax return until December 10, 2018 (due date was April 17, 2018) and no extensions of time to file the return were filed. Below are amounts from his 2017return:
Taxable income
$140,000
Total tax liability on taxable income
32,182
Total federal tax withheld from his salary
25,682
Andrew sent a check with his return to the IRS for the balance due of
$ 6,500. He is relieved that he has completed his filing requirement for
2017 and has met his financial obligation to the government for
2017.
Has Andrew met all of his financial obligations to the IRS for 2017?
If not, what additional amounts will Andrew be liable to pay to the IRS?
First select the label for any applicable financial obligations that Andrew will incur, then enter the applicable amounts and calculate the total. (Assume a 365-day year. Do not round intermediary calculations. Only round the amount you input in the cell to the nearest cent. If a box is not used in the table leave the box empty; do not select a label or enter a zero.)
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