00:01
In this question, it says that rita files income tax return 35 days after the due date of the return without obtaining an extension from the irs.
00:12
And so when you continue with the question, it says, fail to pay penalty.
00:19
And so we have to fill in the blank.
00:22
And one fill out to fill to file penalty.
00:26
Yes.
00:27
So that's what you are looking at here.
00:29
So we have penalty for failure to pay.
00:40
Penalty for failure to pay.
00:50
Okay.
00:53
According to the irs guideline, the penalty for failure to pay is usually, the penalty for failure to pay is usually half of 1 % of the unpaid taxes for each month.
01:43
Since isabella pays her tax 35 days after the due date, it implies she would be penalized for two months late period as 35 days fall in second month late period...