The tax shown on her return is 25000. her current year, Ask an Expert

Accounting

On August 13 of the following year, Joy files her current calendar year tax return and pays the amount due without having requested an extension to pay. The tax shown on her return is $25,000. Her current year withholding tax is $15,000. Joy pays no estimated taxes and does not claim any tax credits on her current year return. Will Joy owe interest, if so, on what amount and for how many days?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M964531

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