Dela filed her unextended 2017 Form 1040 on November 2, 2018, and had no reasonable cause for the delinquency. The return showed a $22,840 balance of tax due. Compute Ms. Dela's late-filing and late-payment penalty.

Question

Quizplus · Accepted Answer

The penalty equals $5,938 ([$22,840 × 25% for five months through September 17] + [$22,840 × 1% for two months from September 18 through November 2]).

Dela Filed Her Unextended 2017 Form 1040 on November 2