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Jacob files his 2018 tax return on August 27, 2019. Jacob had obtained an automatic 6 month extension to file his return on April 15,
Jacob files his 2018 tax return on August 27, 2019. Jacob had obtained an automatic 6 month extension to file his return on April 15, 2019. When Jacob files his taxes on August 27, he also includes a check for $4,000, which is the balance of the tax owed. Disregarding the interest element, what is Jacobs total penalties assuming Jacob was not negligent or fraudulent.
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