Mr. and Mrs. Chung filed their unextended 2014 Form 1040 on May 30, 2015, 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 the above
Correct Answer:
Verified
Q8: Employees who deliberately have excess income tax
Q10: The Taxpayer's Bill of Rights prevents the
Q20: Individuals are allowed to deduct interest paid
Q26: Mrs. Hepp completed her 2014 Form 1040
Q27: A taxpayer who wants a jury trial
Q28: The geographic location of the trial court
Q30: If a taxpayer has insufficient financial means
Q33: Which of the following statements about taxpayer
Q38: Taxpayers who win their case in court
Q40: Which of the following statements about federal
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents