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Joaquin Did Not Have Any Money to Pay His $2,000

Question 30

Essay

Joaquin did not have any money to pay his $2,000 tax liability on April 15 so he did not file his tax return. He finally filed the return on July 25 and paid $1,000 of the tax due. He paid the remaining tax due on October 18. What is his total penalty?

Correct Answer:

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$415; (4 months x .0...

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