In March 2016, Vincent anticipates that his actual tax liability for the tax year 2015 will be
Question:
a. Is Vincent required to make estimated tax payments in 2015?
b. If no estimated tax payments are made, will Vincent be subject to an underpayment penalty if the actual tax liability for 2015 is $12,000? Why or why not?
c. Will Vincent be subject to an underpayment penalty if his 2014 AGI was $175,000? Why?
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Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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