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In 2020, Phillip, who is single, has a comfortable salary from his job as well as income from his investment portfolio. However, he is
In 2020, Phillip, 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 2020 income tax return until December 4, 2021 (due date was April 15, 2021) and no extensions of time to file the return were filed. Below are amounts from his 2020 return; (Click the icon to view the 2020 data.) Requirement Has Phillip met all of his financial obligations to the IRS for 2020? If not, what additional amounts will Phillip be liable to pay to the IRS? (Assumptions) Ignore any extentions granted for extraordinary circumstances First select the labels for any applicable financial obligations that Phillip will incur, then enter the applicable amounts and calculate the total. (Assume a 366-day year. Do not round intermediary calculations. Only round amounts you enter into the table to the nearest cont. If an input field is not used in the table leave the input field empty; do not select a label or enter a zero) Total additional amount due
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