Mark the incorrect answer. Estimated income tax payments Nd d if the estmated tax, after subtracting withholding, can reasonably be expected to be more tha $1,000. b. If they are inadequate, may result in nondeductible penalties c. May be based on the amount of the tax liability for the prior year d. Are made in four installments on April 15, June 15, and September 5 of the tax year and on January 15 of the following year