Tax penalties
Taxpayer fails to file the return by the due date, and there is a balance due.
What is failure to file?
Federal Single person under 65
What is $12,000?
Additional income or adjustments to income
What is schedule 1?
Federal taxable income for a single taxpayer is $34,605
What is $3,965?
Thriller
Who was Michael Jackson?
Taxpayer fails to pay the tax owed by the due date.
What is failure to pay?
Federal Married filing jointly both under 65
What is $24,000?
Tax or other taxes
What is schedule 2?
Taxable income of $19,930 for a head of household taxpayer
What is $2,119?
Let it Be
Who is Paul McCartney?
Taxpayer shows n_________ or i__________ d________ of the rules or regulations, causing an underpayment.
What is negligence or intentional disregard?
Federal Head of Household under 65
What is $18,000?
Nonrefundable credits or other payments and refundable credits
What is schedule 3?
Married filing jointly with taxable income of $44,444
What is $4,950?
Maria Maria
Who is Carlos Santana?
Taxpayer understates their tax by the larger of $5,000 or 10% of the correct tax.
What is substantial understatement?
California single or mfs deduction
What is $4,236?
You can itemized on this form
What is schedule A?
California tax for married filing jointly, taxable income is $65,659
What is $1,682?
Give me one reason, Layla, Tears in Heaven, The thrill is gone, You are so beautiful,...
Who is Eric Clapton?
If the taxpayer submits a payment for taxes due on a return and the payment is dishonored or other form of payment, what is that penalty?
$1,250 or more = 2%
Less than $1,250 = amount of payment or $25, whichever is less.
California mfj, hoh, or qw deduction
What is $8,472?
Estates, trusts, partnerships, rental, royalties, are all reported here
What is schedule E?
Single taxpayer, California taxable income of $60,150
What is $2,843?
Respect
Who was Aretha Franklin?