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Author Question: With respect to estimated tax payments for a taxpayer with AGI of $150,000 or lower in the prior ... (Read 57 times)

Chelseaamend

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on: Sep 13, 2020

Question 1

If a taxpayer's AGI is greater than $150,000, no penalty will be imposed if the taxpayer pays estimated tax payments in 2016 equal to what percentage of 2015's income tax liability?
◦ 100%
◦ 90%
◦ 110%
◦ 120%

Question 2

With respect to estimated tax payments for a taxpayer with AGI of $150,000 or lower in the prior year, all of the following are generally true with the exception of
◦ no penalty is imposed if the estimated tax is less than $1,000.
◦ no penalty is imposed if the individual has no tax liability for the prior year.
◦ no underpayment penalty is imposed if the estimated payments total at least 90% of the tax due for the current year.
◦ no underpayment penalty is imposed if the estimated payments total at least 90% of the actual tax liability for the prior year.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by Chelseaamend on Sep 13, 2020

31809pancho

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Chelseaamend

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Reply 2 on: Sep 13, 2020
Excellent

scottmt

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Reply 3 on: Yesterday
Wow, this really help

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