Government in taxes and penalties

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Reference no: EM13152360

Orange Ltd. Withheld from its employees" paychecks $200,000 in Federal income and Social Security taxes for the May 29 payroll. It then spent the $200,000 on equipment upgrades, missing altogether the May 31 due date for the tax remittances. How much does Orange now owe the government in taxes and penalties?

Reference no: EM13152360

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