Assume that Ed expects his income for this year to decline and his tax liability for this

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Assume that Ed expects his income for this year to decline and his tax liability for this year to be only $15,000. What minimum amount of estimated taxes should Ed pay this year? What problems will Ed encounter if he pays this minimum amount and his current year income exceeds last year’s because of a large capital gain realized in December of this year?
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Federal Taxation 2016 Comprehensive

ISBN: 9780134104379

29th Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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