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For filing form B 9a tax form) late, the penalty is 5% for each month 9Or part thereof). the penalty does not go over 25%. besides the penalty, interest of 1/2% a month(or part) is charged. Bumblers filed Form B late. There was a $3879.45 due on it.

How much $ was due for penalties if bumblers filed for B a. 1 1/2 months late? b. 5 months late? c. 7 months late

How much $ was due for interest if bumblers filed form b d. 1 1/2 months late? e.5 months late? f.7 months late?

How much money was due for penalties AND interest if bumblers filed form B g. 1 1/2 months late? h. 5 months late? i. 7 months late?

Top 2 Answers

A few days ago

Anonymous

Favorite Answer

eh say that again!!!! 🙂

A few days ago

VampireDog

Assuming that there is no compounding of interest or penalties and that 3879.45 is the original amount due then:

a) = 10% of the original amount

b) =25% of the original amount

c)=25% of the original amount

d)=1% of the original amount

e)=2.5% of the original amount

f)=3.5% of the original amount

g)=the anwer to a plus the answer to d

h)= the answer to b plus the answer to e

i) = the answer to c plust the answer to f

now, just in case you are very new to all this, convert the percent to decimal by moving the decimal point two places to the left (3.5%=.035, for example) and perform simple multiplication to get the products.

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