Question
Millie 2020 tax liability is 41293.Her agi is greater than 150000.Her 2020 withholding is 36910.Her 2019 tax liability was 29570. Does she owe an estimated
Millie 2020 tax liability is 41293.Her agi is greater than 150000.Her 2020 withholding is 36910.Her 2019 tax liability was 29570. Does she owe an estimated tax payment penalty for 2020? Why or why not? a) yes,she owes a penalty because her balance due is greater than 1000.b) yes,she owes a penalty because she did not have at least a 100% of her tax liability withheld during the year. c) no,she does not owe a penalty because her 2020 withholding was greater than 110% of her 2019 tax liability. d) no, she does not owe a penalty because her 2020 withholding is at least 90% of her 2019 tax liability.
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