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Scenario $4$: NOLs and Estimated Tax Payments

Sole proprietorship is expected to have a significant net loss for the year, likely around $($$$150,000)$

The previous year's tax liability was $$30,000.$

Estimated wages for the current year: $$50,000$

Estimated Interest & Dividend Income: $$2,000$

Questions

Analyze the taxpayer's estimated tax payment obligations for the current year in light of the expected NOL.

Are there exceptions or safe harbors to avoid underpayment penalties?

Discuss strategies the taxpayer could use if they anticipate having a profitable year in the near future $($and thus wanting to utilize the NOL carryforward sooner$).$