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

$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

Find attached complete question.

$ 750.10  

Explanation:

In order to ascertain the value of C ,we need to equate the present value of the two streams of cash flows to each other as follows:

first stream:

$400/(1+6%)^1+$400/(1+6%)^2+$125/(1+6%)^3+$400/(1+6%)^4+$400/(1+6%)^5+$125/(1+6%)^6+$400/(1+6%)^7=$1,808.19  

Second stream:

C/(1+6%)^1+C/(1+6%)^2-$250/(1+6%)^3-$250/(1+6%)^4-$250/(1+6%)^5+C/(1+6%)^6+C/(1+6%)^7

-$250/(1+6%)^3-$250/(1+6%)^4-$250/(1+6%)^5=-$594.74

C/(1+6%)^1+C/(1+6%)^2+C/(1+6%)^6+C/(1+6%)^7=C/0.9434+C/0.8900+C/ 0.7050+C/ 0.6651  

simplification

C/0.9434+C/0.8900+C/ 0.7050+C/ 0.6651=C/(0.9434+0.8900+0.7050+0.6651)= 0.31216C

All in all:

$1,808.19 =-$594.74+ 0.31216C

$1,808.19+$594.74= 0.31216C

$2402.93 = 0.31216C

C=$2402.93* 0.31216  =$ 750.10