Aliya files her current year tax return on June 18 of the following year. On October 8 she pays the amount due, if any, without requesting an extension. The tax shown on her return is $30,000. Aliya pays no estimated taxes and claims no tax credits on her current year return. Read the requirements. Requirement a. What penalties will the IRS likely impose on Aliya (ignoring the penalty for underpayment of estimated taxes)? On what dollar amount, and for how many days, will Aliya owe interest? Assume Aliya committed no fraud and that any penalty and interest period begins on April 16. Assume her wage withholding tax amounts to $23,000. Complete the table below to show the penalties that the IRS will likely impose on Aliya. Minus: Total penalties Aliya owes interest on for | days. Whot il the IDS ike

Aliya files her current year tax return on June 18 of the following year. On October 8 she pays the amount due, if any, without requesting an extension. The tax shown on her return is $30,000. Aliya pays no estimated taxes and claims no tax credits on her current year return. Read the requirements. Requirement a. What penalties will the IRS likely impose on Aliya (ignoring the penalty for underpayment of estimated taxes)? On what dollar amount, and for how many days, will Aliya owe interest? Assume Aliya committed no fraud and that any penalty and interest period begins on April 16. Assume her wage withholding tax amounts to $23,000. Complete the table below to show the penalties that the IRS will likely impose on Aliya. Minus: Total penalties Aliya owes interest on for | days. Whot il the IDS ike

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter12: Tax Administration And Tax Planning

Section: Chapter Questions

Problem 3P

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