Cherry Ann filed her 2021 ITR on May 12, 2022. She then received assessment of deficiency
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Cherry Ann filed her 2021 ITR on May 12, 2022. She then received assessment of deficiency
income tax on October 10, 2023. On October 30, 2023, she filed for protest. She also submitted
supporting documents on December 5, 2023. Unfortunately, she received denial of protest on
April 20, 2024. Until when can she appeal the decision to CTA?
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- Dora Burch files her 2020 income tax return on March 2, 2021. She receives a nil assessment on June 3, 2021. However, on December 28, 2021, she receives a reassessment indicating that she owes a substantial amount of additional tax. She would like to object to this reassessment. What is the latest date for her to file a notice of objection? (Ignore the effect of leap year if applicable.) Select one: O A. April 30, 2022. O B. March 2, 2022. O C. December 28, 2022. O D. March 28, 2022.X file his annual ITR on February 2019. On May 2020, he received a notice of assessment from BIR for under payment of taxes. Thus, X file an amended ITR of 2018 due to notice from BIR. Decide. a. X cannot file an amended ITR. b. X may file an amended or answer the notice of assessment from BIR c. X must file a new ITR and pay the correct taxes d. X must file an appeal in court e. None of the aboveAnna paid her income tax on June 20, 2019. She filed a claim for refund on May 2, 2020and received the Commissioner’s decision denying her claim on May 31, 2021 1) suppose the two period is about to lapse but she has not yet received the Commissioner’s decision on her claim what action should be taken by Anna?
- Maryann filed her Income Tax Return for taxable year 2021 on May 2, 2022. After aninvestigation, it was discovered that the tax paid was deficient. The last day for the BIR to sendan assessment is?Ms. Schmidt didn't request an extension of time to file a 2021 income tax return and didn't mail the completed return to the IRS until August 8, 2022. Ms. Schmidt enclosed a check for $2,380, the correct balance of tax due with the return. Required: a. Assuming that Ms. Schmidt can't show reasonable cause for filing a delinquent return, compute the late-filing and late-payment penalty. b. Compute the late-filing and late-payment penalty if the return was not mailed until November 21. Complete this question by entering your answers in the tabs below. Required A Required B Assuming that Ms. Schmidt can't show reasonable cause for filing a delinquent return, compute the late-filing and late- payment penalty. Late-filing and late-payment penalty < Required A Required BMs. Schmidt didn't request an extension of time to file a 2021 income tax return and didn't mail the completed return to the IRS until August 8, 2022. Ms. Schmidt enclosed a check for $3,490, the correct balance of tax due with the return. Required: a. Assuming that Ms. Schmidt can't show reasonable cause for filing a delinquent return, compute the late-filing and late-payment penalty. b. Compute the late-filing and late-payment penalty if the return was not mailed until November 21. X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Compute the late-filing and late-payment penalty if the return was not mailed until November 21. Note: Round your intermediate and final calculations to the nearest whole dollar amount. Late-filing and late-payment penalty $ 698 x < Required A Required B
- Joan Bass, an individual whose only income resulted from pensions, did not pay her net tax owing for 2019 until she actually filed her return on September 10, 2020. Her net tax owing on her balance-due day was $5,600. This is the first time she has late filed her return. How much of a late filing penalty will Joan incur?Norman Foster filed his 2021 income tax return as was required on June 15, 2022. His Notice of Assessment dated August 28, 2022, indicated that his 2021 income tax return was accepted as filed. On March 15, 2023, he receives a Notice of Reassessment dated March 8, 2023 indicating that he owes additional income tax, as well as interest on the unpaid amounts. What is the latest date for filing a notice of objection for this reassessment? Explain your answer.Tim, a self-employed taxpayer, did not have all the information he needed to timely file his 2020 tax return by May 17, 2021. Although he requested an automatic extension, he did not include a payment when he filed the extension. He then filed his return ten days later, on May 27, 2021, reporting a $950 balance due. How much must Max pay in failure-to-file and failure-to-pay penalties? No failure-to-file penalty or failure-to-pay penalty will apply. His failure-to-file penalty is $0, but he has a failure-to-pay penalty of 0.5% of his unpaid tax. His failure-to-file penalty is 5% of his unpaid tax. He also has a failure-to-pay penalty of 0.5%, for an overall total of 5.5%. He has a $435 failure-to-file penalty plus an additional penalty of 0.5%, applied to his unpaid tax.
- Julie filed a valid extension for her 2020 tax return, giving her until October 15, 2021, to file her return. She filed her return on November 1 and paid $2,000 of tax due. For what period of time will Julie be subject to interest? For what period of time will Julie be subject to the failure-to-file and failure-to-pay penalties?Linn filed her 2020 Form 1040 on April 4, 2021. What is the date on which the applicable statute of limitations expires in each of the following independent situations? Linn incurred a bad debt loss that she failed to claim. Linn inadvertently omitted one-third of the correct gross income. Same as part (b), except that the omission was deliberate. Linn innocently overstated her deductions by a large amount. No return was filed by Linn.A(n) Dora Burch files her 2022 income tax return on March 2, 2023. She receives an original notice of assessment dated June 3, 2023. However, on December 28, 2023, she receives a reassessment indicating that she owes a substantial amount of additional tax. She would like to object to this reassessment. What is the latest date for her to file a notice of objection? She does not carry on a business. (Ignore the business sells goods that it effect of leap year if applicable.) purchases in finished form for resale. March 2, 2024. April 30, 2024. March 28, 2024. Shy December 28, 2024.