Isabella 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 Isabella's failure to file penalty and and failure to pay penalty.

a. Failure to pay penalty = 400

b. Failure to file penalty = $4,000

Explanation:

The monthly rate for failure to pay penalty is 0.5% while the failure to file penalty.

Since it is assumed that there are 30 days in a month, the 35 days after the due date of the return without obtaining an extension from the IRS is will be counted as 2 months regardless of the fact that the second month is just 5 files when she filed.

Therefore, we have:

a. Failure to pay penalty = $40,000 * 0.5% * 2 = 400

b. Failure to file penalty = ($40,000 * 5% * 2) = $4,000

c. Total penalties = (Failure to file penalty - failure to pay penalty for the same period) + Failure to pay penalty = ($4,000 - $400) + $400 = $4,000.

Therefore, the total penalty Isabella will pay is $4,000.

i guess you could put raise the economic balance

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3