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Last year, TBA Corporation, a calendar-year taxpayer, reported a tax liability of $100,000. TBA confidently anticipates a current year tax liability of $240,000. What minimum
Last year, TBA Corporation, a calendar-year taxpayer, reported a tax liability of $100,000. TBA confidently anticipates a current year tax liability of $240,000. |
What minimum estimated tax payments should TBA make for the first, second, third, and fourth quarters respectively (ignore the annualized income method) assuming the following: |
a. | TBA is not considered to be a large corporation for estimated tax purposes. |
b. | TBA is considered to be a large corporation for estimated tax purposes. |
For A and B, the question asks me to fill in the Estimated Tax Liability, Percentage of Tax Required to be Paid, and the Prior Cumulative Payments.
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