Answer:
Not filing your return will cost you an additional 5 percent of your unpaid tax bill each month.
Not paying what you owe will add an extra 0.5 percent each month to your overall IRS debt.
If you did not file on time and did not pay any tax you owed, you are subject to both penalties. However, the IRS actually gives you a bit of a break. The maximum penalty that you’ll pay for both in any given month is 5 percent, rather than 5.5 percent.
If you don’t file or pay for five months, the failure-to-file penalty will max out at 25 percent of your unpaid taxes. But the 0.5 percent failure-to-pay penalty will continue to accrue, up to another 25 percent of what you owe, until the tax is paid.
Interest also is charged on the overdue amount
If your due a refund then the only way to get it is to file
Explanation:
Solution :
When the people of this economy trades three of their goods, the price of the good must list 1 price and then the economy requires 3 prices for the people to carry transactions.
Suppose the number of the goods that people trade increases to 15 number, then the price of the goods must list one price and the number of the price that the economy requires increases to 15.
Money has an intrinsic value and it is the unit of account, while that of the currency is the measure of the value and have a purchasing power that government is bestowed on it being a legal tender.
The store of the value characteristics is negatively impacted. But because the ongoing increase in the cost of the standard implies inflation that means that the value of the assets as accounted by the store has a value function as the money decreases.
Even when the cost of the living increases, the money serves as the best medium of exchange and a unit of the account.
Double coincidence of the wants is the barter system that is required.
Answer:
The computations are as follows
Explanation:
a) Before tax income is
= After Tax Income ÷ (1 - Tax Rate)
= $58,500 ÷ (1 - 0.35)
= $90,000
b) Total Contribution Margin
Contribution Margin = Fixed Costs + Before Tax Income
= $190,000 + $90,000
= $280,000
c) Calculation of Total Sales
Variable Cost is 75% of Sales
SO, Contribution Margin 25% of Sales
Contribution Margin = $280,000
25% of Sales = $280,000
Sales = $280,000 ÷ 25%
= $1,120,000
d) Break Even Point in dollars
Break Even Point in dollar = Total Fixed Costs ÷ Contribution Margin percentage
= $190,000 ÷ 25%
= $760,000
We simply applied the above formula
B. Associate of Arts degree (APEX)