A taxpayer filed his income tax return in October 28, 2018. The deadline for the return was April 15, 2022. If he has P40,000 net tax due, compute the penalties in the form of interest. What is the total surcharge penalty? P0 P10,000
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- During 2019, Carl (a single taxpayer) has a salary of $91,500 and interest income of $11,000. Calculate the maximum contribution Carl is allowed for an educational savings account. $0 $400 $1,000 $2,000 Some other amountA taxpayer received a notice from the BIR to file his 2020 income tax return not later than January 15, 2022. The tax due per his return is P100,000. What is the total surcharge penalty? P0 P25,000 P20,000 P50,000 ADD EXPLANATION THANKSA taxpayer filed his income tax return in October 28, 2022. The deadline for the return was April 15, 2022. If he has P40,000 net tax due, compute the penalties in the form of interest. What is the total surcharge penalty? P0 P10,000 P8,000 P20,000 ADD EXPLANATION, THANKS
- A taxpayer received a notice from the BIR to file his 2020 income tax return not later than January 15, 2022. The tax due per his return is P100,000. What is his total interest penalty? P6,500 P14,740 P7,900 P15,068 ADD EXPLANATION THANKSA taxpayer received a notice from the BIR to file his 2020 income tax return not later than January 15, 2022. The tax due per his return is P100,000. What is his total interest penalty?10. A taxpayer filed his income tax return on October 28, 2020. The deadline for the return was April 15, 2020. If he has P40,000 net tax due, compute the penalties in the form of interest. * О а. Р 2,564 O b. P 2,590 O c. P 2,538 O d. P 2,578
- es Vinitpaul has the following information: AGI for 2022 Withholding for 2022 Total tax for 2021 Total tax for 2022 $ 155,000 $ 27,300 $ 31,200 $ 31,197 Required: a. How much must Vinitpaul pay in estimated taxes to avoid a penalty? Note: Round the final answer to nearest whole dollar amount. Minimum estimated tax payment b. If Vinitpaul had paid $900 per quarter, would he have avoided the estimated tax penalty?ments and provides you with the following information: 2018 2019 2020 2021 Annual tax liability $31,000 $32,000 Est $35,000 Est. $37,000 Annual tax withheld $27,000 $30,000 Est $31,000 Advise Michelle as to her instalment payment options for 2021 the minimum payment amount when instalment payments are due how much tax would have to be withheld in 2021 to avoid liability for instalment payments?A taxpayer needs help identifying and understanding their Adjusted Gross Income (AGI) for the tax year of 2022. Filing status: Single Their total income consists of the following: Wages $20,000 Capital Gains $5,000 Pension Income $5,000 The taxpayer paid alimony in the amount of $5,000 for a divorce decree dated 2017, $5,500 of student loan interest, and $3,000 for child care. Is this the AGI?
- In 2018, Ronnie Alonte received from his employer a promissory note with a face value of P 50,000 for services rendered. The note will mature in 2019. However, it can be sold to a bank at a discount of 25%. The employer paid the promissory note in 2019. How much is the taxable income to be declared by Alonte on the promissory note in 2018 and 2019? 2018 2019a. P 50,000 P 50,000b. P 12,500 P 37,500c. P 37,500 P 12,500d. None P 50,000Your adjusted gross income (line 11 of the form 1040) is $150,000. Your filing status is Single. Your standard deduction (Line 12) is $12,400. Using the 2020 Income Tax Rate Schedule, please calculate the amount of income taxes you will owe for the year. A. $12,864.00 B. $27,104.50 C. $36,000.00 OD. $30,174.50Select the best answer. A cash-basis taxpayer deposited $10,000 in a savings account on October 15, 2021. Her account was credited for $10 of interest in 2021 and $100 of interest in 2022. She withdrew the entire $10,110 on December 31, 2022. How much of this interest is taxable in 2022? O question Q 6 A. $0 B. $10 C. $100 D. $110 Submit Answers 93% Complete Exit & Resum