Mr.and Mrs.Reece couldn't complete their 2019 Form 1040 before April 15,2020.They estimate that they will have a $700 balance of tax due with the return.Which of the following statement is true?
A) If the Reeces fail to file their return by April 15,they may opt to request an extension but still will owe penalties to the IRS.
B) The Reeces can file an extension request by April 15 to extend the tax payment and filing date for six months without penalty.
C) The Reeces can file an extension request by April 15 to extend the filing date for six months without penalty.They must pay the $700 estimated balance of tax due with the extension request.
D) None of the above is true.
Correct Answer:
Verified
Q101: Alice Grim, a single taxpayer, has $719,000
Q104: Ms. Dorley's regular tax liability on her
Q106: Which of the following statements concerning extensions
Q106: Mr.and Mrs.Bennett file a joint tax return.Determine
Q108: Ms.Kilo's regular income tax before credits on
Q109: Which of the following statements concerning extensions
Q110: Eileen,a single individual,had $125,000 taxable income.Compute her
Q110: Which of the following statements regarding tax
Q111: Last year, Mr. Tyker's AGI was $182,800,
Q116: Mr.and Mrs.Reid reported $1,435,700 ordinary taxable income
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents