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Jackson Brown failed to file his 2020 tax return by the due date. Additionally, he owes $1,200 in taxes that were due with the return.
Jackson Brown failed to file his 2020 tax return by the due date. Additionally, he owes $1,200 in taxes that were due with the return. If he files the return and pays the delinquent taxes exactly 3 months late, what is his Failure to File and Failure to Pay penalties? Show each penalty computation and results separately.
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