For non-corporate taxpayers other than farmers, fishermen, certain household employers, and certain high income taxpayers, business owners
Question:
For non-corporate taxpayers other than farmers, fishermen, certain household employers, and certain high income taxpayers, business owners expecting to owe at least $1,000 after withholding and refundable credits, should make estimated tax payments of at least:
75% of the tax estimated to be shown on the current year's return or 90% of the tax shown on the previous year's return.
90% of the tax estimated to be shown on the current year's return or 100% of the tax shown on the previous year's return.
50% of the tax estimated to be shown on the current year's return or 75% of the tax shown on the previous year's return.
25% of the tax estimated to be shown on the current year's return or 75% of the tax shown on the previous year's return.
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta