Trudy's AGI last year was $200,000. Her Federal income tax came to $65,000, which she paid through

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Trudy's AGI last year was $200,000. Her Federal income tax came to $65,000, which she paid through a combination of withholding and estimated payments. This year, her AGI will be $300,000, with a projected tax liability of $45,000, all to be paid through estimates.
a. Ignore the annualized income method. Compute Trudy's quarterly estimated tax payment schedule for this year.
b. Assume instead that Trudy's AGI last year was $100,000 and resulted in a Federal income tax of $20,000. Determine her quarterly estimated tax payment schedule for this year.
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South Western Federal Taxation 2015

ISBN: 9781305310810

38th Edition

Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young

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