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Author Question: An individual with AGI equal to or less than $150,000 in the prior year may generally avoid ... (Read 48 times)

Lisaclaire

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An individual with AGI equal to or less than $150,000 in the prior year may generally avoid penalties for underpayment of estimated tax in each of the following cases with the exception of
◦ estimated tax is less than $1,500.
◦ 90% of the tax due for the current year is paid.
◦ 90% of the tax due for the current year is paid when computed on an annualized basis.
◦ 100% of the actual tax liability for the prior year is paid.


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Marked as best answer by Lisaclaire on Sep 13, 2020

Edwyer

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Lisaclaire

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Reply 2 on: Sep 13, 2020
Excellent


T4T

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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