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Rita forgot to pay her Federal income tax on time. When she actually filed, she reported a balance due. Compute Rita's failure to file penalty
Rita forgot to pay her Federal income tax on time. When she actually filed, she reported a balance due. Compute Rita's failure to file penalty in each of the following cases. Ignore the failure to pay penalty in your computations.
a.
Two months late, $1,000 additional tax due. |
b.
Three and a half months late, $3,000 additional tax due. |
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