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?

Bennett is a single individual and received a salary of $28,000 before he retired in October of this year. After he​ retired, he received Social Security benefits of $4,000 during the year.   Read the requirements.   Requirement a. What​ amount, if​ any, of the Social Security benefits are taxable for the​ year?   Begin by computing the provisional income. Only select items that are applicable to Bennett.​(Leave unused cells​ blank, do not select a label or enter a​ zero.)   Adjusted gross income (excluding Social Security benefits) $28,000 Plus: 50% of Social Security benefits 2,000       Provisional income $30,000 The taxable portion of the Social Security benefits is   .     Requirements a. What​ amount, if​ any, of the Social Security benefits are taxable for the​ year? b. Would the answer be different if Bennett also had $1,500 of​ tax-exempt interest? c. What if he had had $6,400of​…

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 $1,490, 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.

In 2019, Simon, age 12, has interest income of $4,900 and no earned income. He has no investment expenses. Determine Simon’s net unearned income and total tax liability.