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Ms. Schmidt didnt request an extension of time to file a 2021 income tax return and didnt mail the completed return to the IRS until
Ms. Schmidt didnt request an extension of time to file a 2021 income tax return and didnt mail the completed return to the IRS until August 8, 2022. Ms. Schmidt enclosed a check for $2,380, the correct balance of tax due with the return. Required: Assuming that Ms. Schmidt cant show reasonable cause for filing a delinquent return, compute the late-filing and late-payment penalty. Compute the late-filing and late-payment penalty if the return was not mailed until November 21
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