It is currently July $15$ and the client comes in with the following documents asking for you to complete a tax return. No extension was ever filed. The client is single and takes the standard deduction. The client has not paid any estimated taxes.

$1.$ W$2-$ $$100,000$ wages, $$15,000$ federal taxes withheld

$2.$ K$-1-$ $$20,000$ ordinary business income, $$5,000$ guaranteed payments

$3.1099-$INT $-$ $$2,000$ interest income

$4.$ Printout showing that he contributed $$6000$ to a Roth IRA

What is the gross income?

What is the taxable income assuming there are no other credits, adjustments or QBI?

What is the total tax due based on $2023$ tax brackets?

What is the tax owed?

Is there interest and penalty? What kind?

If you were to calculate estimated tax prepayments for the client and choose $100\%$ of last year$$s tax bill as the estimating method, what would be the prepayment schedule and amount $($list date and amount$)$ for this client?

If the taxpayer resides in Philadelphia, do you need to make interest and penalty payments for the state and local level? Assuming the business is in Philadelphia, what additional local tax return$($s$)$ need to be completed and for what types of income?