Joan filed her individual tax return 3 months late she did not request an extension along with the return she remitted a check for 800.00 disregarding interest calculate the total penalties that Joan will be required to pay the failure to pay is not fraud

Q: Lorna Hall’s real estate tax of $2,010.88 was due on December 14, 2019. Lorna lost her job and could…

A: Real estate tax = $2,010.88 Due date = December 14 2019 Last date = February 27, 2020 Penalty…

Q: Determine the amount of tax penalties Joey owes.

A: Taxable income: It is the part of the income on which tax is calculated which is to be paid to the…

Q: Brooke may defer her payroll taxes by reducing her payroll deposits calculated on Form 941.

A:

Q: Ned Naïve operated several franchise stores for a large company, and, at the home office’s…

A: Reduced tax liability and a tax refund at zero or almost zero are the objectives. If you anticipate…

Q: Determine the effects of the following on a cash basis taxpayer’s gross income for 2020 and 2021:…

A: Under cash receipt method, income is recognized in the year of constructive or actual receipt by…

Q: I need some guidance with the following question. We do not need to complete form 1040 or any…

A: Taxable income is calculated on income from salary, bonus, long term & short-term capital gains,…

Q: $24,750 Yukari steals $100,000 from her employer through a series of clever transactions during…

A: Negligent Tax Return : If an erroneous claim for a refund or a credit   is filed,  A penalty will be…

Q: A taxpayer forgot to register his book of accounts on time. Which of the following penalties will be…

A: Step 1 Failure to maintain and filling of books of accounts and all the related documentation will…

Q: Victoria's 2021 tax return was due on April 15, 2022. but she did not file it until June 12, 2022.…

A: 1. Non Filing / Late Filing Penalty : 5 % per month ( or fraction there of ) on additional tax due.…

Q: Rita files her income tax return 180 days after the due date of the return without obtaining an…

A: Penalty for failure to pay: As per IRS, the penalty for failure to pay the unpaid taxes is 0.5% of…

Q: Disregarding interest, calculate the total penalty that John will be required to pay, assuming the…

A: Given information is: John filed his individual income tax return 3½months after it was due. He had…

Q: Tax penalties. Joey, single, owned and operated a marina and night club. He did not file his 2019…

A: Taxable income: It is the part of the income on which tax is calculated which is to be paid to the…

Q: Taxpayer Y fails tjo file his tax return until 3 months past the due date and it is deemed…

A: The question is related to penalty for delay filing of return due to fraudulent reasons. The current…

Q: .  Jack filed his tax return 8 months and 27 days late and did not request an extension of time for…

A: Workings: Jack filed his tax return 8 months and 27 days late Jack to Receive $ 9695 as refund in…

Q: Rita files her income tax return 35 days after the due date of the return without obtaining an…

A: Solution:- Calculation of the balance of the tax she owes as follows under:- Basic information:-…

Q: Joan filed her tax return 4 1/2 months late no extension was requested a check for 750.00 was…

A: Workings: Amount x percent of late fee x Number of months.

Q: Compute the penalty described for the following taxpayers. If an amount is zero, enter "0". If…

A: The penalty is the excess amount that the taxpayer has to pay for the late payment of the tax…

Q: Identify the transfers subject to Federal gift tax. On April 21, John opens a joint account with…

A: Federal gift tax: Federal gift tax is charged on the person who gives something of value to another…

Q: Supposed Rowan, a businessman did not pay his income taxes last year since the BIR did not demand…

A: Meaning of Income from business and profession:- The term Income from business and profession means…

Q: What is the qualified business income deduction for the following problem:

A: Compute the total itemised deduction.

Q: Jacob Turner hired Jen Hatcher as a housekeeper starting on January 2 at $831 monthly. Jacob does…

A: SOLUTION-   MEANING OF TAX  IS A CHARGE USUALLY OF MONEY IMPOSED BY AUTHORITY ON PERSONS OR PROPERTY…

Q: George owed Keith $800 on a personal loan. Neither the amount of the debt nor George’s liability to…

A:

Q: This year William provided $4,200 of services to a large client on credit. Unfortunately, this…

A: Here in this question, we are required to answer what amount of deduction for bad debt can be…

Q: calculate the total penalties that Joan will be required to pay, assuming the failure to file was…

A: US Tax laws allows their resident to file their returns & pay taxes after 2 months of the due…

Q: Clyde is a cash-method taxpayer who reports on a calendar-year basis. This year Paylate Corporation…

A: Taxation refers to the imposition of compulsory financial obligation by the government on…

Q: 1. Deductible transportation expenses: a.Do not include the normal costs of commuting. b.Do not…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: SCENARIO: Doris maintained an IRA account at the brokerage firm ABC. On February 11 of the current…

A: Tax is the liability which has to be paid by the individual and the corporation to the Federal…

Q: a. Federal income tax withholdings b. Federal income tax withholdings c. Federal income tax…

A: The income tax withholding is an amount of the tax that is deducted by the employer from the…

Q: Determine the effects of the following on a cash basis taxpayer's gross income for 2021 and 2022. If…

A: Gross Income: The whole amount of salary a person receives in their paycheck before any deductions…

Q: Alexi files her tax return 29 days after the due date. Along with the return, she remits a check for…

A: If any individual files after 29 days of the due date so the penalty will be applicable for 1 month,…

Q: Required information [The following information applies to the questions displayed below.] Clyde is…

A: Gross income is the amount of money that represents the earnings of a person.

Q: Phyllis maintained an IRA account at the brokerage firm ABC. On February 11 of the current year, she…

A: An Individual Retirement Account (IRA) seems to be a retirement savings account established with a…

Q: Calculate the amount of Geoffrey's penalty for failure to file his tax return on time, assuming the…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: b.  Joan filed her individual income tax return 3 months after it was due. She did not request an…

A: Taxable income is the measurement of income which is used to calculate the amount of tax that needs…

Q: Question D is wrong (  The income tax for Ciara filing as head of household is $13,387)  can you…

A: It is given in the question that the status of filling of the tax return by the Ciara is the head of…

Q: Joan filed her individual income tax return 4½ months after it was due. She did not request an…

A: SOLUTION- THERE ARE A RULE THAT IF THE RETURN HAS BEEN FILED MORE THAN 60 DAYS AFTER THE DUE DATE ,…

Q: a.  Wilson filed his individual tax return on the original due date, but failed to pay $270 in taxes…

A: A penalty is a fee levied by the IRS for failing to pay taxes by the yearly deadline or for failing…