What are the penalties for owing $10,000 in back taxes to the IRS, for 2 years?

What are the penalties for owing $10,000 in back taxes to the IRS, for 2 years?
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1 Answer

Answer :

It is going to depend on if they are personal or Business Taxes, and it will depend on how late you are in filing for the late period or extension period.
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Let's say you win $10,000. How much will they take out for taxes?

Description : Let's say you win $10,000. How much will they take out for taxes?

Last Answer : answer:Here’s an article from Bankrate.com that explains it pretty well: http://www.bankrate.com/brm/news/advice/20020520b.asp Florida doesn’t have a state income tax, so that helps. I would consult an actual financial advisor though, it definitely varies by state and amount won.

When my income was $100,000, I paid $10,000 in taxes. When my income became $200,000, I paid $40,000 in taxes. My marginal tax rate is: a. 10% b. 20% c. 30% d. 40%

Description : When my income was $100,000, I paid $10,000 in taxes. When my income became $200,000, I paid $40,000 in taxes. My marginal tax rate is: a. 10% b. 20% c. 30% d. 40%

Last Answer : c. 30%

When my income was $100,000, I paid $10,000 in taxes. When my income became $200,000, I paid $40,000 in taxes. My marginal tax rate is: a. 10% b. 20% c. 30% d. 40%

Description : When my income was $100,000, I paid $10,000 in taxes. When my income became $200,000, I paid $40,000 in taxes. My marginal tax rate is: a. 10% b. 20% c. 30% d. 40%

Last Answer : c. 30%

6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment spending is $2000. In order to avoid recessions and inflation (to have equilibrium), the government should have a: a. balanced budget b. budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C

Description : 6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment ... . budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C

Last Answer : c. budget surplus of $1000

How to Fill Out Your W-4 to Avoid Owing Taxes?

Description : How to Fill Out Your W-4 to Avoid Owing Taxes?

Last Answer : Filling out your W-4 with your company each year is directlyrelated to the amount of taxes you may owe at the end of eachfiscal year. It is wise to include all your dependents on yourform, and have ... , a child can be claimed as a dependent until he or shereaches the age of eighteen. Under c

Should I contact the IRS if I owe back taxes?

Description : Should I contact the IRS if I owe back taxes?

Last Answer : Yes definitely contact the IRS with regards to taxes. Often you can workout a payment plan. Many times penalties and interest can be removed. When these are added they increase the taxes that are ... will the IRS. They can often negotiate favorable terms for you regarding the back taxes. Good luck!

I had a payment plan in place to pay my back taxes owed to the IRS (approx 1500) they took my Stimulus Ck and I think my balance might be around 1200 - 1500. How do I find out what I owe them today. and how do i re-enter a new agreement with them?

Description : I had a payment plan in place to pay my back taxes owed to the IRS (approx 1500) they took my Stimulus Ck and I think my balance might be around 1200 - 1500. How do I find out what I owe them today. and how do i re-enter a new agreement with them?

Last Answer : Call the IRS and talk to an agent to find out your balance and how to enter a new agreement with them.

Can an IRS tax attorney file an appeal for back taxes?

Description : Can an IRS tax attorney file an appeal for back taxes?

Last Answer : Yes, an IRS tax attorney can help you file an appeal. You should talk to the IRS tax attorney and ask him to help you file an appeal. Filing the appeal probably can be done through him.

How do I file back taxes with the IRS?

Description : How do I file back taxes with the IRS?

Last Answer : You would have to file a amendment to that years tax. You can go to the IRS website for the correct forms.

When you pay more than you owe in taxes and the IRS gives you money back, that money is called _________. A. A tax refund B. Gross pay C. Estimated tax D. An audit?

Description : When you pay more than you owe in taxes and the IRS gives you money back, that money is called _________. A. A tax refund B. Gross pay C. Estimated tax D. An audit?

Last Answer : A. A tax refund

why Novelty Chemicals bought a Motor Vehicle for$110,000 on January 5, 2016. The estimated usefullife of the vehicle is ten years. The disposal valueis estimated at $10,000. Annual depreciation is onthe straight line method?

Description : why Novelty Chemicals bought a Motor Vehicle for$110,000 on January 5, 2016. The estimated usefullife of the vehicle is ten years. The disposal valueis estimated at $10,000. Annual depreciation is onthe straight line method?

Last Answer : Novelty Chemicals bought a Motor Vehicle for$110,000 on January 5, 2016. The estimated usefullife of the vehicle is ten years. The disposal valueis estimated at $10,000. Annual ... for annualdepreciation.d) The Balance Sheet extracts for motor vehicle and itsrelated depreciation.full question

8. If the government lowers taxes by $10 billion, the Real GDP will rise by a. more than $10 billion b. less than $10 billion c. exactly $10 billion

Description : 8. If the government lowers taxes by $10 billion, the Real GDP will rise by a. more than $10 billion b. less than $10 billion c. exactly $10 billion

Last Answer : a. more than $10 billion

My ex wife owe over $20,000.00 in back taxes. Years owed 95,98,99, and 2000.I recently filed this missing years and now have a fairly accurate assessment of what we owe. Unable to pay without filing Chapter 7 or 13.Income is stretched to the limit. ?

Description : My ex wife owe over $20,000.00 in back taxes. Years owed 95,98,99, and 2000.I recently filed this missing years and now have a fairly accurate assessment of what we owe. Unable to pay without filing Chapter 7 or 13.Income is stretched to the limit. ?

Last Answer : If she is your ex-wife, you probably aren't liable for her back taxes. Usually, your legal separation agreement will stipulate that you are each responsible for your own taxes. If so, I would think you're off the hook for this.

If you received $10,000 right now. How would you double it ?

Description : If you received $10,000 right now. How would you double it ?

Last Answer : Cut the bills in half.

What would you do if your 11 year old daughter stole $10,000 from her grandmother, then caught a cab to Florida to meet a boy?

Description : What would you do if your 11 year old daughter stole $10,000 from her grandmother, then caught a cab to Florida to meet a boy?

Last Answer : answer:Make her pay a goodly portion of any pocket money/or earned income to her grandmother until the debt is paid off and ensure that she understands that should her grandmother die before the debt is paid off, ... left would be reduced by $10,000. Other than that, I'm not sure what you can do.

What should I do with $10,000?

Description : What should I do with $10,000?

Last Answer : You should consider putting it in a retirement fund.

If life insurance policy was worth $10,000.00 in 1955 how much will it be in 2009?

Description : If life insurance policy was worth $10,000.00 in 1955 how much will it be in 2009?

Last Answer : Unless the terms of the policy have changed, $10,000.

I have $10,000 to invest.

Description : I have $10,000 to invest.

Last Answer : AAPL

Should someone who sold her eggs to an infertile couple for $10,000 when she was in college tell the person she's now planning to marry?

Description : Should someone who sold her eggs to an infertile couple for $10,000 when she was in college tell the person she's now planning to marry?

Last Answer : I would say it loudly and proudly. Donating eggs is a very brave and humanitarian thing to do. I know one probably does it for money, but it is a great service to your fellow woman, imo.

A magician was boasting one day at how long he could hold his breath under water. His record was 6 minutes. A kid that was listening said, 'that's nothing, I can stay under water for 10 minutes using no types of equipment or air pockets!' The magician told the kid if he could do that, he'd give him $10,000. The kid did it and won the money.Can you figure out how? -Riddles

Description : A magician was boasting one day at how long he could hold his breath under water. His record was 6 minutes. A kid that was listening said, 'that's nothing, I can stay under water for 10 minutes using no ... he'd give him $10,000. The kid did it and won the money.Can you figure out how? -Riddles

Last Answer : The kid filled a glass of water and held it over his head for 10 minutes.

A man left an inheritance of $10,000 to three relatives and their wives. Together the wives received $3960. Janine received $100 more than Cathy, and Maria received $100 more than Janine. Joe received the same amount as his wife, Hary got half as much again as his wife, and Tom received twice as much as his wife. How much did each receive? -Riddles

Description : A man left an inheritance of $10,000 to three relatives and their wives. Together the wives received $3960. Janine received $100 more than Cathy, and Maria received $100 more than Janine. Joe received the ... his wife, and Tom received twice as much as his wife. How much did each receive? -Riddles

Last Answer : Carthy, Janine and Maria received $1220, $1320, and $1420 respectively. Joe received the same as his wife Carol, $1220. Hary received half again what his wife Janine did, $1980. Tommy got twice as much as his wife Maria, $2840.

A magician was boasting one day at how long he could hold his breath under water. His record was 6 minutes. A kid that was listening said, 'that's nothing, I can stay under water for 10 minutes using no types of equipment or air pockets!' The magician told the kid if he could do that, he'd give him $10,000. The kid did it and won the money. Can you figure out how? -Riddles

Description : A magician was boasting one day at how long he could hold his breath under water. His record was 6 minutes. A kid that was listening said, 'that's nothing, I can stay under water for 10 minutes using no ... he'd give him $10,000. The kid did it and won the money. Can you figure out how? -Riddles

Last Answer : The kid filled a glass of water and held it over his head for 10 minutes.

How much is the inheritance tax in CA for an inheritance of $10 000?

Description : How much is the inheritance tax in CA for an inheritance of $10 000?

Last Answer : After you actually receive the funds, there are no taxes to pay on it. Inheritance tax is paid by the estate, so you will receive the net from the estate, not a pre-tax amount. There are several ... of tax paid on inheritance. Depending on the amount and circustances the tax can be between 4.5-15%.

What new cars cost less than $10,000?

Description : What new cars cost less than $10,000?

Last Answer : There aren't any new cars that are for under $10,000 in the United States right now. You will have to look at a pre-owned car, or use the $10,000 to put down on a nice new car.

8. If the monetary base is increased by $1,000 and the reserve requirement is 10% (1/10), by how much will the money supply be increased? a. $100 b. $1,000 c. $5,000 d. $10,000

Description : 8. If the monetary base is increased by $1,000 and the reserve requirement is 10% (1/10), by how much will the money supply be increased? a. $100 b. $1,000 c. $5,000 d. $10,000

Last Answer : d. $10,000

Assume that the required ratio is 10 percent and bank receives $1,000 deposit. What is the excess reserves ? (a) $100 (b) $9,000 (c) $900 (d) $10,000

Description : Assume that the required ratio is 10 percent and bank receives $1,000 deposit. What is the excess reserves ? (a) $100 (b) $9,000 (c) $900 (d) $10,000

Last Answer : (c) $900

Baden Shoe Store has a beginning merchandise inventory of $30,000. During the period, purchases were $140,000; purchase returns, $4,000; and freight-in $10,000. A physical count of inventory at the end of the period revealed that $20,000 was still on hand. The cost of goods available for sale was a. $164,000. b. $156,000. c. $176,000. d. $184,000.

Description : Baden Shoe Store has a beginning merchandise inventory of $30,000. During the period, purchases were $140,000; purchase returns, $4,000; and freight-in $10,000. A physical count of inventory at the end of the period revealed ... for sale was a. $164,000. b. $156,000. c. $176,000. d. $184,000.

Last Answer : c. Purchases Returns and Allo

Companies can enter a Recruiting Spend budget up to an additional ____. a. $5,000 b. $7,500 c. $10,000 d. $20,000 e. $50,000

Description : Companies can enter a Recruiting Spend budget up to an additional ____. a. $5,000 b. $7,500 c. $10,000 d. $20,000 e. $50,000

Last Answer : a. $5,000

.If your current capacity is 10,000 units and your automation level is 5.0, what is the difference of the investment between doubling your capacity and doubling your automation level? a. $60,000 b. $20,000 c. $10,000 d. $520,000 e. $260,000

Description : .If your current capacity is 10,000 units and your automation level is 5.0, what is the difference of the investment between doubling your capacity and doubling your automation level? a. $60,000 b. $20,000 c. $10,000 d. $520,000 e. $260,000

Last Answer : a. $60,000

.If you are currently producing 100,000 units and your automation level is 10, how much will it cost you to double your capacity? a. $1,000,000 b. $4,600,000 c. $100,000 d. $10,000 e. none of the above

Description : .If you are currently producing 100,000 units and your automation level is 10, how much will it cost you to double your capacity? a. $1,000,000 b. $4,600,000 c. $100,000 d. $10,000 e. none of the above

Last Answer : b. $4,600,000

If my wife and I open up an IRA this year and we are over 65 years old, how soon can we withdraw the funds w/o penalties?

Description : If my wife and I open up an IRA this year and we are over 65 years old, how soon can we withdraw the funds w/o penalties?

Last Answer : First the question of set up. If you establish a ROTH IRA, there is no age limit, however, with a traditional IRA, the limit for establishing the IRA is 70.5. IRAs can only be finded by income ... as they accumulate as long as you begin withdrawal by April 1st of the year after you turn 70.5.

A young man decides to buy a collector's baseball card. He pays $60 for it. After a month, the value of the card has increased to $70 and he decides to sell it. But already a few days later he regrets his decision to sell the collector's item, and he buys it again. Unfortunately he has to pay $80 to get it back, so he loses $10. After a year of owning the baseball card, he finally decides to sell it for $100. What is his overall profit? -Riddles

Description : A young man decides to buy a collector's baseball card. He pays $60 for it. After a month, the value of the card has increased to $70 and he decides to sell it. But already a few days later ... of owning the baseball card, he finally decides to sell it for $100. What is his overall profit? -Riddles

Last Answer : $30.00. Overall profit, not net profit!

A man decides to buy a nice horse. He pays $60 for it, and he is very content with the strong animal. After a year, the value of the horse has increased to $70 and he decides to sell the horse. But already a few days later he regrets his decision to sell the beautiful horse, and he buys it again. Unfortunately he has to pay $80 to get it back, so he loses $10. After another year of owning the horse, he finally decides to sell the horse for $90. What is the overall profit the man makes?

Description : A man decides to buy a nice horse. He pays $60 for it, and he is very content with the strong animal. After a year, the value of the horse has increased to $70 and he decides to sell the ... owning the horse, he finally decides to sell the horse for $90. What is the overall profit the man makes?

Last Answer : Consider the trade-story as if it describes two separate trades, where: In the first trade, the man buys something for $60 and sells it again for $70, so he makes a profit of $10. In the second trade, ... and the total earnings are $70 + $90 = $160. The overall profit is therefore $160 - $140 = $20.

A man decides to buy a nice horse. He pays $60 for it, and he is very content with the strong animal. After a year, the value of the horse has increased to $70 and he decides to sell the horse. But already a few days later he regrets his decision to sell the beautiful horse, and he buys it again. Unfortunately he has to pay $80 to get it back, so he loses $10. After another year of owning the horse, he finally decides to sell the horse for $90. What is the overall profit the man makes?

Description : A man decides to buy a nice horse. He pays $60 for it, and he is very content with the strong animal. After a year, the value of the horse has increased to $70 and he decides to sell the ... owning the horse, he finally decides to sell the horse for $90. What is the overall profit the man makes?

Last Answer : Consider the trade-story as if it describes two separate trades, where: In the first trade, the man buys something for $60 and sells it again for $70, so he makes a profit of $10. In the second trade, ... and the total earnings are $70 + $90 = $160. The overall profit is therefore $160 - $140 = $20.

?What's an affordable (under $10 per bottle) **** for aging (for about 7 years.)

Description : ?What's an affordable (under $10 per bottle) wine for aging (for about 7 years.)

Last Answer : answer:Bodegas Castaño Monastrell Yecla 2010 I’m not so much of a wine expert. I guess this should be good for the rest of the year if cellared correctly. I normally plan ahead and make wine just in time for Christmas.

Exceptionally high rainfall is recorded in regions owing to which effect? -General Knowledge

Description : Exceptionally high rainfall is recorded in regions owing to which effect? -General Knowledge

Last Answer : The answer is 'Orographic effect'

Exceptionally high rainfall is recorded in regions owing to which effect? -General Knowledge

Description : Exceptionally high rainfall is recorded in regions owing to which effect? -General Knowledge

Last Answer : answer:

what James always a joke about owing money but I don't like that?

Description : what James always a joke about owing money but I don't like that?

Last Answer : 1-makes 2- does 3- gives

Does owing a pet reduces depression?

Description : Does owing a pet reduces depression?

Last Answer : Yes at some point since the bonding and closeness experienced between an owner and a pet helps to reduce anxiety and depression. The pet for instance cat and dog can be playful and help you forget your worries when you engage in play.

Lipose present in the stomach cannot hydrolyze fats owing to (A) Alkalinity (B) Acidity (C) High acidity (D) Neutrality

Description : Lipose present in the stomach cannot hydrolyze fats owing to (A) Alkalinity (B) Acidity (C) High acidity (D) Neutrality

Last Answer : Answer : C

Which of the following statements are true of the multiple organ dysfunction syndrome (MODS)? A. The “two-hit” model proposes that secondary MODS may be produced when even a relatively minor second insult reactivates, in a more amplified form, the systemic inflammatory response that was primed by an initial insult to the host. B. The systemic inflammatory response syndrome (SIRS), shock due to sepsis or SIRS, and MODS may be regarded as a continuum of illness severity. C. Prolonged stimulation or activation of Kupffer cells in the liver is thought to be a critical factor in the sustained, uncontrolled release of inflammatory mediators. D. The incidence of MODS in intensive care units has decreased owing to increased awareness, prevention, and treatment of the syndrome.

Description : Which of the following statements are true of the multiple organ dysfunction syndrome (MODS)? A. The two-hit model proposes that secondary MODS may be produced when even a relatively ... intensive care units has decreased owing to increased awareness, prevention, and treatment of the syndrome.

Last Answer : Answer: ABC DISCUSSION: MODS is part of a clinical continuum that begins with the systemic inflammatory response syndrome, which is the host's stress response to any major insult such ... pathogenesis of MODS, the incidence of MODS continues to increase without a significant improvement in outcome

A college student desires to get elected to the municipal council of his city. The validity of his nomination would depend on the important condition, among others, that? (1) He obtains permission from the principal of his college. (2) He is a member of a political party. (3) His name figures in the voter's list. (4) He files a declaration owing allegiance to the constitution of India.

Description : A college student desires to get elected to the municipal council of his city. The validity of his nomination would depend on the important condition, among others, that? (1) He obtains permission from ... the voter's list. (4) He files a declaration owing allegiance to the constitution of India.

Last Answer : (3) His name figures in the voter's list. Explanation: The validity of nomination of a person to get elected to the municipal council would depend on the condition that his name should be figured in the voter's list.

Water from soil enters into the root hairs owing to : (1) Atmospheric pressure (2) Capillary pressure (3) Root pressure (4) Osmotic pressure

Description : Water from soil enters into the root hairs owing to : (1) Atmospheric pressure (2) Capillary pressure (3) Root pressure (4) Osmotic pressure

Last Answer : (2) Capillary pressure Explanation: In plants, the transpiration stream is the uninterrupted stream of water, and other, which is taken up by the roots and, via the xylem vessels, ... the difference in water potential between the soil and the substomatal cavity caused by transpiration.

Jayant Sinha, minister of state for finance reported how many willful defaulters owing Rs 66,190 crore to state-owned banks as of December 2015? A) 6719 B) 7128 C) 5275 D) 7686 E) None of these

Description : Jayant Sinha, minister of state for finance reported how many willful defaulters owing Rs 66,190 crore to state-owned banks as of December 2015? A) 6719 B) 7128 C) 5275 D) 7686 E) None of these

Last Answer : D) 7686 Explanation: Sinha also said that the total outstanding amount in top 100 non-performing accounts (NPAs) with public sector banks (PSBs) was Rs 1.73 lakh crore as of December 2015. Willful ... December 2015 while the amount involved more than doubled to Rs 66,190 crore from Rs 27,749 crore.

Exceptionally high rainfall is recorded in regions owing to which effect?

Description : Exceptionally high rainfall is recorded in regions owing to which effect?

Last Answer : Orographic effect

. If a money order cannot be paid owing to the death of the payee a) It should be paid to his relatives in the address b) It should be treated as an unclaimed order c) It should be kept in deposit d) None of these

Description : . If a money order cannot be paid owing to the death of the payee a) It should be paid to his relatives in the address b) It should be treated as an unclaimed order c) It should be kept in deposit d) None of these

Last Answer : b) It should be treated as an unclaimed order

Which of the following statements is true? a. Professional standards prohibit CPAs from performing non-assurance engagements. b. Absolute assurance is attainable owing to the fact that much of the evidence available to the CPA is persuasive rather than conclusive. c. The CPA’s conclusion provides a level of assurance about the subject matter. d. The responsible party expresses a conclusion that provides a level of assurance as to whether the subject matter conforms, in all material respects, with the identified suitable criteria

Description : Which of the following statements is true? a. Professional standards prohibit CPAs from performing non-assurance engagements. b. Absolute assurance is attainable owing to the fact that much of ... to whether the subject matter conforms, in all material respects, with the identified suitable criteria

Last Answer : The CPA’s conclusion provides a level of assurance about the subject matter.

Whenever, owing to the unusual bulk mail for an office extra transit bags are closed a) The word ‘extra bag’ should be written on the label b) The number of extra transit bags closed should be entered in the mail list c) Each extra transit bag closed should contain its separate mail list showing the particulars of bags enclosed d) All the above

Description : Whenever, owing to the unusual bulk mail for an office extra transit bags are closed a) The word extra bag' should be written on the label b) The number of extra transit bags closed ... bag closed should contain its separate mail list showing the particulars of bags enclosed d) All the above

Last Answer : d) All the above

Sulphur dioxide present in the industrial chimney exhaust gases causes (A) Respiratory & lung disease (B) Reduction in plant's productivity owing to acid rain (C) Corrosion of building materials (D) All (A), (B) and (C)

Description : Sulphur dioxide present in the industrial chimney exhaust gases causes (A) Respiratory & lung disease (B) Reduction in plant's productivity owing to acid rain (C) Corrosion of building materials (D) All (A), (B) and (C)

Last Answer : (D) All (A), (B) and (C)