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Joseph is a podiatrist and has an adjusted gross income of $220,000. His tax liability is $55,200 for 2023 and was $47,000 for 2022. Assume
Joseph is a podiatrist and has an adjusted gross income of $220,000. His tax liability is $55,200 for 2023 and was $47,000 for 2022. Assume that the underpayment interest rate charged by IRS is 4% annually. If Joseph had paid estimated tax payments of $37,000 evenly throughout the year, would he be subject to any underpayment of tax penalty
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