What is the minimum penalty for a taxpayer who fails to file his or her return for over 60 days past the due date without reasonable cause?
A)The amount owed on the return
B)$135
C)The amount owed on the return or $210, whichever is less
D)4.5% of the amount owed on the return.

Question

Quizplus · Accepted Answer

The minimum penalty for failing to file a tax return more than 60 days after the due date, without reasonable cause, is the lesser of the amount owed on the return or $210. This ensures that there is a minimum financial consequence for late filing, but it is capped to prevent it from being excessively punitive in cases where the amount owed is very small.

What Is the Minimum Penalty for a Taxpayer Who Fails