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Paul has the following information: AGI for 2020 Withholding for 2020 Total tax for 2019 Total tax for 2020 $ 155,000 $ 25, 200 $
Paul has the following information: AGI for 2020 Withholding for 2020 Total tax for 2019 Total tax for 2020 $ 155,000 $ 25, 200 $ 29,800 $ 29,447 Required: a. How much must Paul pay in estimated taxes to avoid a penalty? (Round the final answer to nearest whole dollar amount.) Minimum estimated tax payment b. If Paul had paid $1,000 per quarter, would he have avoided the estimated tax penalty? Yes
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