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Lori, a Calendar Year Individual Taxpayer, Files Her 2013 Return

Question 137

Essay

Lori, a calendar year individual taxpayer, files her 2013 return on February 10, 2015. She had obtained a six-month extension for filing her return. There was additional income tax of $30,000 due with the return.
a. What are Lori's penalties for failure to file and to pay?
a. change if Lori, before the due date of the return, had retained a CPA to prepare the return and it was the CPA's negligence that caused the delay?
b. Would your answer to

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