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Rita files her income tax return 180 days after the due date of the return without obtaining an extension from the IRS. Along with the return, she remits a check for $18,000, 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. Failure to pay penalty Failure to file penalty $ $

Rita files her income tax return 180 days after the due date of the return without obtaining an extension from the IRS. Along with the return, she remits a check for $18,000, 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. Failure to pay penalty Failure to file penalty $ $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Rita files her income tax return 180 days after the due date of the return without obtaining an extension from the IRS. Along with the return, she remits a check for $18,000, 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. Failure to pay penalty Failure to file penalty $
Transcribed Image Text:Rita files her income tax return 180 days after the due date of the return without obtaining an extension from the IRS. Along with the return, she remits a check for $18,000, 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. Failure to pay penalty Failure to file penalty $
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