Hello, This question is regarding late tax filing I am trying to solve it according to the formula but everytime I am getting wrong answer anyone please help me solve this question to get right answer I am attaching my work with question SdutianCheek amount c'lsoLate fee penlent per month z 5.No 9 moths late= 45 (roundingth r)roundingto rてe 750x51. XS Menthe37.8X5= 18)'5187.5 87.5problem 12-3Joan Riled her Individual Inceme tax reteun ųMonthsafterit wasrequert an extention of Fime fer filingAlendue. She did notCheek Ufor$ ii was balanethe taxesWith her retunr$750 Wuich wasJoan remi tted athebalanleg .she owedDIStegandingDisiregandinginteren Calclate totalRenalisypenalis that cman will be requiredesee thattopayasbuming failme to Rile wasnot fracudulint?fra

Failure to pay penalty=Tax amount×0.5%×Number of months=$750×0.5%×5=$18.75

problem 12-3 Joan filed her Individual Inceme tax reteun 4 Months aftr it was due she did not requelt an extention of time for filying with her retiun Joan remitted eng r¢750 whidh was the balane 4 the taxes.she owed DiSregandine interen Calaulale dotal penalsy Fopay not praudulunt? with her retern that coan will be, required! asbuming failne to Rle was

problem 12-3 Joan filed her Individual Inceme tax reteun 4 Months aftr it was due she did not requelt an extention of time for filying with her retiun Joan remitted eng r¢750 whidh was the balane 4 the taxes.she owed DiSregandine interen Calaulale dotal penalsy Fopay not praudulunt? with her retern that coan will be, required! asbuming failne to Rle was

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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