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Linda Filed Her Individual Income Tax Return on Its Due

Question 33

Essay

Linda filed her individual income tax return on its due date but failed to pay $1,000 in taxes that were due with the return. Linda promptly paid the taxes upon receipt of a notice and demand for payment. If Linda pays the taxes exactly 5 months late, calculate the amount of her failure-to-pay penalty.

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$25 = $1,0...

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