Question

Joseline waited until December 12, 2019, to file her 2018 Form 1040 return. She did not request an extension. Her balance due for 2018 is $461. What is her failure to file penalty

Answer 1

Answer: $207.45

Explanation:

The latest date that Josephine should have filed her taxes by was April 15th 2019.

She instead waited till December 12, 2019.

9 partial and full months have passed since that time so her penalty will be for 9 months.

Penalty is 5% of the balance due:

= 461 * 5% * 9

= $207.45