A taxpayer with 2019 AGI of $160,000 has no income tax withholding and is required to pay

Question:

A taxpayer with 2019 AGI of $160,000 has no income tax withholding and is required to pay estimated taxes. The taxpayer can avoid an underpayment penalty by paying

a. At least 90% of the 2019 tax liability ratably over four quarterly payments.

b. At least 110% of the 2019 tax liability ratably over four quarterly payments.

c. At least 90% of the 2018 tax liability ratably over four quarterly payments.

d. 100% of the 2019 tax liability ratably over four quarterly payments.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Fundamentals Of Taxation 2020 Edition

ISBN: 9781260483147

13th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler

See More Books

Question Posted: Dec 24, 2019 04:44 AM

See More Questions

A taxpayer with 2018 AGI of $160,000 has no income tax withholding and is required to pay estimated taxes. The taxpayer can avoid an underpayment penalty by paying a. At least 90% of the 2018 tax...
Multiple choice Questions 1. Employers pay a maximum federal unemployment tax of 6.0% on how much of an employees taxable wages for 2014? a. $1,800. b. $3,800. c. $5,800. d. $7,000. 2. Carlos has two...
1. Employees claim withholding allowances on Form W-4. Each withholding allowance claimed lowers their annual withholding base by what amount for calendar year 2015? a. $3,850. b. $3,900. c. $3,950....
Find the probability | (p)| 2d3 p of the particular momentum p for the ground-state hydrogen atom. (This is a nice exercise in three-dimensional Fourier transforms. To perform the angular...
In Exercises 1 and 2, write a vector equation that is equivalent to the given system of equations. 1. 2. x2 + 5x3 = 0 4x1 + 6x2-x3 = 0 -x1 + 3x2-8x3-0 3x1-2x2 + 4x3 = 3 -2x1-7x2 + 5x3-1 5x1 +...
Automatic versus Manual Processing (LO2) Mid-Town Copy Service processes 1,800,000 photocopies per month at its mid-town service center. Approximately 50 percent of the photocopies require collating....
Considering the situation in the preceding exercise, suppose that the maximum storage capacity for the company is 50 tankloads. Required What is the optimal order? Demonstrate why.
Cadence Elliot, CPA, had the following partial worksheet: Requirements 1. Complete the worksheet. 2. Prepare the closing entries for Cadence Elliot, CPA. CADENCE ELLIOT, CPA Worksheet December 31,...
A company with $735,000 in operating assets is considering the purchase of a machine that costs $81,000 and which is expected to reduce operating costs by $27,000 each year. These reductions in cost...
The graph below displays the sample sizes and percentages of people in different age and gender groups who were polled concerning their approval of Mayor Ford's actions in office. The total number in...
Adam received a bonus of $6,000 from his employer. Which one of the following federal income withholding tax amounts is not in accordance with IRS rules regarding supplemental wage payments? Adam...
Carol works for ABC Company and earned $63,000 for the entire 2019 year. How much in FUTA tax is her employer required to withhold in her name? Assume that the employer receives the maximum credit...
How are net exports, net factor payments from abroad, and the current account balance related?
Pacifico Company, a U.S.-based importer of beer and wine, purchased 1,200 cases of Oktoberfest-style beer from a German supplier for 276,000 euros. Relevant U.S. dollar exchange rates for the euro...
Define meaning of partnership deed.
List down the information contains in the partnership deed.
Write a C++ statement that calculates the square root of the following expression: x 2 * y 3 . The x and y variables have the double data type. Assign the result to a double variable named answer.
Privitera and Freeman (2012) constructed a scale to measure or estimate the daily fat intake of participants; the scale was called the estimated daily intake scale for fat (EDIS-F). To validate the...
Describe the rules concerning the basis of property distributed to a partner. How does the concept of basis-in, basis-out apply to partnership distributions?
How can a partnership interest be disposed of? Which disposal method is more likely to produce a gain or loss? How is the gain or loss calculated?
How is the outside basis of a partner allocated to assets in a liquidation of the partnership interest? Include in your answer the effects of distributing cash, ordinary assets, 1231 assets, and...
What does it mean when a companies book EVA is negative but there market EVA is positive?
An n-year 1000 par value bond with 8% annual coupons has an annual effective yield of i,i>0. The book value of the bond at the end of the year 3 is 1099.84 and the book value at the end of year 5 is...
The Zumwalt Company is expected to pay a dividend of $1.80 per share at the end of the year, and that dividend is expected to grow at a constant rate of 11.40% per year in the future. The companys...

A taxpayer with 2019 AGI of $160,000 has no income tax withholding and is required to pay

Question:

Step by Step Answer:

a At least 90 of the 2019 tax liability ratably over four quarterly payments ...View the full answer

Fundamentals Of Taxation 2020 Edition

Students also viewed these Business questions