Should n be penalized for failure to file

Reference no: EM131880879

Question: 1. On April 10, 2016, N realized that she would not be able to file her 2015 tax return by April 15, 2016. She phoned her accountant and told him that she was delayed but expected a very large refund. The accountant informed her that she would not be penalized since no tax was due. When N finished her tax return, she found that $4,000 additional tax was due. She filed her 2015 return and paid the $4,000 additional tax in July 2016. The IRS assessed failure to-file and failure-to-pay penalties. N agrees that she owes the penalty for failure to pay, but does not feel that she should be penalized for failure to file since she relied on the advice of her accountant. Should N be penalized for failure to file? Why or why not?

Reference no: EM131880879

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