Question

John forgot to file his tax return by April 15. He did not file an extension. John finally filed his tax return on June 30 and had a remaining tax liability of $1,500. What is John's failure to file penalty

Answer 1

b. $225.

Step-by-step explanation:

These are the options for the question

a. $375.

b. $225.

c. $233.

d. $300.

Step-by-step explanation:

From the question we are informed about how John forgot to file his tax return by April 15. He did not file an extension. John finally filed his tax return on June 30 and had a remaining tax liability of $1,500.

In this case, John's failure to file penalty can be calculated as

($1,500 × 5/100%)= $75

From April that he forgot to file his tax return to June 30 is 3month, then penalty will be ($75× 3 months)= $225