Keyshawn Brown prepared and signed last year's tax return on April 3 but forgot to mail the return until the morning of April 20. Keyshawn enclosed a check for the $3,612 balance of tax due with the return. Required: Compute the late-filing and late-payment penalty. Note: Round your answer to the nearest whole dollar amount. > Answer is complete but not entirely correct. Late-filing and late-payment penalty $ 199 ×

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Keyshawn Brown prepared and signed last year's tax return on April 3 but forgot to mail the return until the morning of April 20.
Keyshawn enclosed a check for the $3,612 balance of tax due with the return.
Required:
Compute the late-filing and late-payment penalty.
Note: Round your answer to the nearest whole dollar amount.
> Answer is complete but not entirely correct.
Late-filing and late-payment penalty
$
199 ×
Transcribed Image Text:Keyshawn Brown prepared and signed last year's tax return on April 3 but forgot to mail the return until the morning of April 20. Keyshawn enclosed a check for the $3,612 balance of tax due with the return. Required: Compute the late-filing and late-payment penalty. Note: Round your answer to the nearest whole dollar amount. > Answer is complete but not entirely correct. Late-filing and late-payment penalty $ 199 ×
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