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Jax Company's (a monthly depositor) tax liability (amount withheld from employees' wages for federal income tax and FICA tax plus the company's portion of the
Jax Company's (a monthly depositor) tax liability (amount withheld from employees' wages for federal income tax and FICA tax plus the company's portion of the FICA tax) for July was $1,210. No deposit was made by the company until August 24, 20--. Determine the following: Round your answers to the nearest cent.
a. The date by which the deposit should have been made | August 15 |
b. The penalty for failure to make timely deposit | $ |
c. The penalty for failure to fully pay tax when due | $ |
d. The interest on taxes due and unpaid (assume a 3% interest rate) | $ |
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