Final answer:
To calculate the late filing and late payment penalties for Dr. Lee, we would apply the IRS penalty rates of 5% per month for late filing up to 25% and 0.5% per month for late payment up to 25%. However, the precise penalties depend on the specific dates and amounts, which are not provided in the question.
Step-by-step explanation:
The question is asking to calculate the combined late filing and late payment penalties that Dr. Lee would face for filing a 2021 Form 1040 late without reasonable cause. According to the Internal Revenue Service (IRS) guidelines, the late filing penalty is usually 5% of the unpaid taxes for each month or part of a month that a tax return is late, not exceeding 25% of your unpaid taxes. Since Dr. Lee filed in November 2022, this amounts to a six-month delay, which would typically max out at 25% of the unpaid tax. However, without the precise calculation period, we can only estimate the maximum late filing penalty.
The late payment penalty is 0.5% of your unpaid taxes for each month or part of a month after the due date that the tax is not paid, up to 25%. Since $22,840 remained unpaid and Dr. Lee filed six months late, one would calculate the combined monthly late payment penalties. Again, without a specific calculation timeline, we estimate the maximum potential penalty at 25%.
It's important to note that these penalties are separate and the IRS will charge both if both apply. The maximum combined penalty for filing late and paying late is 47.5% of the unpaid tax per year (25% for late filing + 22.5% for late payment), but the late payment penalty can be adjusted if both penalties apply in any month. To compute the exact penalty values, one would need to use the dates and amounts specific to Dr. Lee's case and follow IRS guidelines.