Mr. and Mrs. Chung filed their unextended 2019 Form 1040 on May 30, 2020, and had no reasonable cause for the delinquency. The return showed a $10,479 balance of tax due. Compute the Chungs' late-filing and late-payment penalty.
A) $524
B) $1,048
C) $2,620
D) None of these choices are correct
Correct Answer:
Verified
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