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What penalty will Blake incur

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Problem - Blake, a cash basis, calendar year taxpayer, filed his Federal income tax return 48 days after the due date. Blake never extended his return, and he paid the taxes that were due when he filed the return. What penalty will Blake incur, and how much will he have to pay if his additional tax is $10,000? Disregard any interest he must pay.

Reference no: EM132650764

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