Rita forgot to pay her federal income tax on time. when she, Ask an Expert

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Rita forgot to pay her Federal income tax on time. When she actually filed (without a valid extension), she reported a balance due. Compute Rita's failure to file penalty in each of the following cases. describe your answers, as necessary.

a. One month late, $1,000 additional tax due

b. Four months late, $3000 additional tax due

c. Six months late, $4,000 additional tax due

d. Four months late due to fraud by Rita, $5,000 additional tax due

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M968729

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