f an amount is zero, enter "0". If required, round your answers to two decimal places. a. Wilson filed his individual tax return on the original due date, but failed to pay $7,720 in taxes that were due with the return. If Wilson pays the taxes exactly 11 months late, calculate the amount of his failure-to-pay penalty.$
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f an amount is zero, enter "0". If required, round your answers to two decimal places.
a. Wilson filed his individual tax return on the original due date, but failed to pay $7,720 in taxes that were due with the return.
If Wilson pays the taxes exactly 11 months late, calculate the amount of his failure-to-pay penalty.
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- Compute the penalty described for the following taxpayers. If an amount is zero, enter "0". If required, round your answers to two decimal places. Question Content Area a. Wilson filed his individual tax return on the original due date, but failed to pay $2,310 in taxes that were due with the return. If Wilson pays the taxes exactly 3 months late (not over 60 days), calculate the amount of his failure-to-pay penalty.$fill in the blank b. Joan filed her individual income tax return 5 months after it was due. She did not request an extension of time for filing. Along with her return, Joan remitted a check for $725, which was the balance of the taxes she owed with her return. Disregarding interest, calculate the total penalties that Joan will be required to pay, assuming the failure to file was not fraudulent.$fill in the blankCompute the penalty described for the following taxpayers. If an amount is zero, enter "0". If required, round your answers to two decimal places. a. Wilson filed his individual tax return on the original due date but failed to pay $630 in taxes that were due with the return. If Wilson pays the taxes exactly 3 months late, calculate the amount of his failure-to-pay penalty.$ b. Joan filed her individual income tax return 5 months after it was due. She did not request an extension of time for filing. Along with her return, Joan remitted a check for $275, which was the balance of the taxes she owed with her return. Disregarding interest, calculate the total penalties that Joan will be required to pay, assuming the failure to file was not fraudulent.$ c. Jack filed his tax return 4 months and 6 days late and did not request an extension of time for filing. Jack's return indicated that he is to receive a $9,695 refund in taxes. Calculate the amount of Jack's…Lorna Hall’s real estate tax of $2,010.88 was due on December 14, 2019. Lorna lost her job and could not pay her tax bill until February 27, 2020. The penalty for late payment is 612%612% ordinary interest. (Use Days in a year table.)a. What is the penalty Lorna must pay? (Round your answer to the nearest cent.) Penalty Pay b. What is the total amount Lorna must pay on February 27? (Round your answer to the nearest cent.) Total Amount
- a. Wilson filed his individual tax return on the original due date, but failed to pay $270 in taxes that were due with the return. If Wilson pays the taxes exactly 5 months late (not over 60 days), calculate the amount of his failure-to-pay penalty.$fill in the blank Question Content Area b. Joan filed her individual income tax return 3 months after it was due. She did not request an extension of time for filing. Along with her return, Joan remitted a check for $525, which was the balance of the taxes she owed with her return. Disregarding interest, calculate the total penalties that Joan will be required to pay, assuming the failure to file was not fraudulent.$fill in the blankRita 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 Rita's failure to file penalty and failure to pay penalty. Failure to pay penalty $fill in the blank 1 Failure to file penalty $fill in the blank 2Suppose Ryan receives a CRA instalment reminder for the first quarter of the current year in the amount of $2,700. Ryan does not make any instalment payments during the current year. Ryan will not owe interest for a late instalment Choose the correct answer. O A. if Ryan has little to no income in the current year and his estimated taxes owing is $0 O B. if his taxes owing for the current year are $6,400 and his taxes owing for the previous year were $5,400 O C. if his taxes owing for the current year are $7,400 and his taxes owing for the previous year were $8,400 O D. regardless of any other facts
- Lorna Hall’s real estate tax of $2,010.88 was due on December 14, 2017. Lorna lost her job and could not pay her tax bill until February 27, 2018. The penalty for late payment is 6 1/2% 6 1/2% ordinary interest. (Use Days in a year table.)a. What is the penalty Lorna must pay? (Round your answer to the nearest cent.) b. What is the total amount Lorna must pay on February 27? (Round your answer to the nearest cent.)Rita files her income tax return 180 days after the due date of the return without obtaining an extension from the IRS. Along with the return, she remits a check for $74,000, which is the balance of the tax she owes. Note: Assume 30 days in a month. Disregarding the interest element, enter Rita's failure to file penalty and failure to pay penalty. Failure to pay penalty $ Failure to file penalty $Clyde is a cash-method taxpayer who reports on a calendar-year basis. This year Paylate Corporation has decided to pay Clyde a year-end bonus of $1,450.Determine the amount Clyde should include in his gross income this year under the following circumstances. (Leave no answer blank. Enter zero if applicable.) Problem 5-53 Part-c (Algo) c. Paylate Corporation mailed the check to Clyde before the end of the year (and it was delivered before year-end). Although Clyde expected the bonus payment, he decided not to collect his mail until after year-end. Amount to be included in gross income - ________
- Clyde is a cash-method taxpayer who reports on a calendar-year basis. This year Paylate Corporation has decided to pay Clyde a year-end bonus of $1,450.Determine the amount Clyde should include in his gross income this year under the following circumstances. (Leave no answer blank. Enter zero if applicable.) Problem 5-53 Part-a (Algo) a. Paylate Corporation wrote the check and put it in Clyde’s office mail slot on December 30 of this year, but Clyde did not bother to stop by the office to pick it up until after year-end. Amount to be included in gross income - _______Answer the following: a. Geoffrey filed his tax return 2 months and 8 days late and had not requested an extension of time for filing. Geoffrey's return indicated that he is to receive a $600 refund in taxes. Calculate the amount of Geoffrey's penalty for failure to file his tax return on time, assuming the failure to file was not fraudulent. b. John filed his individual income tax return 3½months after it was due. He had not requested an extension of time for filing. Along with his return, John remitted a check for $1,000, which was the balance of the taxes he owed with his return. Disregarding interest, calculate the total penalty that John will be required to pay, assuming the failure to file was not fraudulent (and that he is not subject to failure-to-pay penalties).Determine the amount of the late filing and late payment penalties that apply for the following taxpayers. Required: a. Jolene filed her tax return by its original due date but did not pay the $1,300 in taxes she owed with the return until one and a half months later. b. Oscar filed his tax return and paid his $2,300 tax liability five months late. c. Wilfred, attempting to evade his taxes, did not file a tax return or pay his $10,800 in taxes for several years.