Quon filed his Federal income tax return on time, but he did not remit the full balance due. Compute Quon's failure to pay penalty in each of the following cases. The IRS has not yet issued a deficiency notice.
a. Three months late, $5,000 additional tax due.
b. Nine months late, $5,000 additional tax due.
c. Five years late, $5,000 additional tax due.

Question

Quon filed his Federal income tax return on time, but he did not remit the full balance due. Compute Quon's failure to pay penalty in each of the following cases. The IRS has not yet issued a deficiency notice.
a. Three months late, $5,000 additional tax due. 
b. Nine months late, $5,000 additional tax due. 
c. Five years late, $5,000 additional tax due.

Quizplus · Accepted Answer

The Answer of Quon filed his Federal income tax return on time, but he did not remit the full balance due. Compute Quon's failure to pay penalty in each of the following cases. The IRS has not yet issued a deficiency notice.
a. Three months late, $5,000 additional tax due. 
b. Nine months late, $5,000 additional tax due. 
c. Five years late, $5,000 additional tax due.

Quon Filed His Federal Income Tax Return on Time, but He