Tax question please help

timer Asked: Dec 1st, 2014

Question description

Rita forgot to pay her Federal income tax on time. When she actually filed (without a valid extension), she reported a balance due. Compute Rita’s failure to file penalty in each of the following cases. Explain your answers, as necessary.

a. Two month late, $1,000 additional tax due

b. Five months late, $3000 additional tax due

c. Eight months late, $4,000 additional tax due

d.  Two and a half month late due, $3,000 additional tax due

e. Two months late due to fraud by Rita, $4,000 additional tax due

f.  Five months late due to fraud by Rita, $15,000 additional tax due

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