charles and joan thompson file a joint return in 2021 they had a taxable income of 95,560 and paid tax of 12,902. charles is an advertising executive and joan is a college professor. during the fall 2022 semester, joan is planning to take a leave of absence witthout pay. the thompsons expect thier taxable income to drop to 77000 in 2022. they expect their 2022 tax liability will be 8,855. which will be the approximate amount of thier withholding. joan anticipates that she will work on academic research during the fall semester.

Charles and Joan Thompson file a joint return. In 2021, they had taxable income of $95,560 and paid tax of $12,902. Charles is an advertising executive, and Joan is a college professor. During the fall 2022 semester, Joan is planning to take a leave of absence without pay. The Thompsons expect their taxable income to drop to $77.000 in 2022 . They expect their 2022 tax liability will be $8.855. which will be the approximate amount of their withholding. Joan anticipates that she will work on academic research during the fall semester. During September, Joan decides to perform consulting services for some local businesses. Charles and Joan had not anticipated this development. Joan is paid a total of \$38,500 during October, November, and December for her work. Use the appropriate Iax Rate Schedules: Required: a. What estimated tax payments are Charles and Joan required to make, if any, for tax year 2022 ? Note: Round your intermediate calculotions and final answer to the nearest dollar amount. b. Do you anticlpate that the Thompsons will be required to pay an underpayment penalty when they file their 2022 tax return? Assume that Charles and Joan made the estimated payment as determined in requirement a