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Lili will file her 2021 federal income tax return on August 1st of 2022 when she returns. If her federal balance owing is $850. What

Lili will file her 2021 federal income tax return on August 1st of 2022 when she returns. If her federal balance owing is $850. 



What will be her late filing penalty?

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The late filing penalty for federal income tax returns is typically 5 of the unpaid taxes for each month or part of a month that the return is late up to a maximum of 25 of the unpaid taxes Assuming Lili does not file her tax return ... blur-text-image

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