Mr. Fiocchi filed his unextended 2015 Form 1040 on July 22, 2016, and had no reasonable cause for the delinquency. The return showed a $1,906 overpayment of tax (refund due). Compute Mr. Fiocchi's late-filing and late-payment penalty.

Question

Quizplus · Accepted Answer

Since Mr. Fiocchi's return showed an overpayment of tax, there is no tax due. Therefore, there are no late-filing or late-payment penalties applicable.

Mr Fiocchi Filed His Unextended 2015 Form 1040 on July