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rita files her income tax return 35 days after the due date of the return without obtaining an extension from the irs. along with the return, she remits a check for $40,000, which is the balance of the tax she owes. note: assume 30 days in a month. disregarding the interest element, enter rita's failure to file penalty and failure to pay penalty.

Respuesta :

The balance of taxes she owes: $3600

No Penalty Paid = $400

No Penalty Paid = $3600

No Penalty Paid = 0.5% of Unpaid Taxes

No Penalty Paid = 5 of Unpaid Taxes Non-payment of %

Penalty = 0.5%* Unpaid tax * Number of months or part thereof

= 0.5% * 40000 * 2

= 400 0.5%*40000*2)-400

= 3600

Provide the best facilities and infrastructure A person or organization that generates public works revenues. The funds raised will be used to fund various public spending programs.

Taxes are a major source of revenue for most governments. Among other things, this money will be used to improve and maintain public infrastructure, including the roads we drive on, and to fund public services such as schools, emergency services, and social programs.

For centuries, taxes have been an important fact of national life. Without them, it would be impossible to pay for the country's defense services, health, welfare, social services, schools and universities, and transportation systems.

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