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FOR THIS QUESTION CAN YOU PLEASE ANSWER IT VERY CLEARLY AND NEATLY. ALL INFORMATION WILL BE POST BELOW. THANKL YOU PROBLEM BELOW This year Lloyd,

FOR THIS QUESTION CAN YOU PLEASE ANSWER IT VERY CLEARLY AND NEATLY. ALL INFORMATION WILL BE POST BELOW. THANKL YOU

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image text in transcribed PROBLEM BELOW

image text in transcribed

This year Lloyd, a single taxpayer, estimates that his tax liability will be $13,150. Last year, his total tax liability was $17,100. He estimates that his tax withholding from his employer will be $9,795. Assuming Lloyd does not make any additional payments, what is the amount of his underpayment penalty? Assume the federal short-term rate is 5 percent. : Dates Actual Withholding Required Withholding Over (Under) Withheld Penalty Per Quarter April 15th June 15th September 15th January 15th Total $ 0.00

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