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Wade filed his Federal income tax return on time but did not remit the balance due. Enter Wade's failure to pay penalty in each of
Wade filed his Federal income tax return on time but did not remit the balance due. Enter Wade's failure to pay penalty in each of the following cases. If required, round your final answers to the nearest dollar. Penalty a. Four months late, \$9,950 additional tax due. b. Ten months late, $13,930 additional tax due. c. Five years late, $15,920 additional tax due. Alexi files her tax return 5 days after the due date. Along with the return, she remits a check for $18,900, which is the balance of the tax she owes. The failure to file is not attributable to fraud. Assume 30 days in a month. If required, round your answers to nearest whole value. Disregarding any interest liabilities, Alexi's total penalties are as follows: Failure to pay penalty: $ x. Failure to file penalty: $
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