question archive Isabella files her income tax return 35 days after the due date of the return without obtaining an extension from the IRS
Isabella files her income tax return 35 days after the due date of the return without obtaining an extension from the IRS
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Isabella files her income tax return 35 days after the due date of the return without obtaining an extension from the IRS. Along with the return, she remits a check for $40,000, which is the balance of the tax she owes. Note: Assume 30 days in a month. Disregarding the interest element, enter Isabella's penalty amount for each, failure to file and failure to pay.
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