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Question 28 of 30
Question ID: 1256049
Brandon failed to file a federal income tax return for last year's tax liability by April 15 of the current year. He filed his tax return October 30 of the current year and remitted the tax that was due. Which of the following statements is CORRECT?
I. Brandon will owe interest to the IRS on the unpaid tax liability that runs from April 15 of the current year until the tax liability is paid in full.
II. Because he took so long to file, the 90%/100% payment criteria does not apply.
III. Brandon will be assessed the failure-to-file penalty.
IV. Depending on the facts and circumstances surrounding the return filed, Brandon could be assessed a negligence penalty.
A) I, II, and IV
B) I only
C) II and IV
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