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Required information [The following information applies to the questions displayed below.) Last year, TBA Corporation, a calendar-year taxpayer, reported a tax liability of $100,000. TBA
Required information [The following information applies to the questions displayed below.) 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: (Leave no answer blank. Enter zero if applicable. Input all your answers as positive numbers.) a. TBA is not considered to be a large corporation for estimated tax purposes. Installment Estimated Tax Liability Percentage of Tax Required To Be Paid Required Cumulative Payment Prior Cumulative Payments Required Estimated Tax Payment $ 0 First quarter % $ 0 % $ 0 $ 0 Second quarter Third quarter Fourth quarter % $ 0 $ 0 % $ 0 $ 0
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