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Compute Rita failure to file penalty

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Problem - Rita forgot to pay her Federal income tax on time. When she actually filed, she reported a balance due. Compute Rita's failure to file penalty in each of the following cases.

a. Two months late, $1,000 additional tax due.

b. Five months late, $3,000 additional tax due.

c. Eight months late, $4,000 additional tax due.

d. Two and a half months late, $3,000 additional tax due.

e. Five months late due to fraud by Rita, $4,000 additional tax due.

f. Ten months late due to fraud by Rita, $15,000 additional tax due.

Reference no: EM132650759

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