Taxpayer requirement to make quarterly estimated tax, Accounting Basics

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Taxpayer requirement to make quarterly estimated tax

Concerning a taxpayer's requirement to make quarterly estimated tax payments:

a) An estate is not required to make estimated payments.

b) A trust must make estimated payments if its federal income tax liability for the year will exceed $500.

c) A C corporation must make estimated payments if its federal income tax liability for the year will exceed $250.

d) An individual must make estimated payments if his or her balance due for the federal income tax for the year will exceed $1,000.

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Accounting Basics: Taxpayer requirement to make quarterly estimated tax

Reference No:- TGS076680

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Accounting Basics: Taxpayer requirement to make quarterly estimated tax

Reference No:- TGS076680

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : How should he record the receipt of check

Q : Journal entry at the date of the bond purchase

Q : Concept of average gross receipts

Q : Applicable overvaluation penalty problem

Q : Taxpayer requirement to make quarterly estimated tax

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Taxpayer requirement to make quarterly estimated tax

Reference No:- TGS076680

Recent Questions Asked Accounting Basics

Q : How should he record the receipt of check

Q : Journal entry at the date of the bond purchase

Q : Concept of average gross receipts

Q : Applicable overvaluation penalty problem

Q : Taxpayer requirement to make quarterly estimated tax

Q : Rental fee for the manufacturing facility

Q : Retire bonds outstanding

Q : Value as assessment tools for an accountant

Q : Financial statements for exteral reporting purposes

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