Elton filed his 2019 income tax return on July 31, 2020, showing total tax of $5,000 and a refund of $100. All tax had been paid by the due date of April 15, 2020. The failure tofile penalty is $0.

Question

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Since Elton paid all his taxes by the original due date (April 15, 2020), the failure to file penalty, which is based on unpaid taxes, would be $0 because there were no unpaid taxes.

Elton Filed His 2019 Income Tax Return on July 31