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For 2016, an unmarried taxpayer, has wages of $45,000. He has a significant amount of income from dividends and interest and therefore expects to have
For 2016, an unmarried taxpayer, has wages of $45,000. He has a significant amount of income from dividends and interest and therefore expects to have a federal income tax liability of $18,000. His total federal income withholding for the year is $9,500. Randy had $100,000 of adjusted gross income and a federal tax liability of $11,000 on his 2015 return. To avoid a penalty, what is the minimum amount of total estimated tax that randy must pay in 2016? Assume the payments are made on a timely basis.
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