True (T) or False (F)?

Consider each statement separately. 

Individual filing requirements depend upon filing status and gross income, but are not affected by age.

Returns are due on April 15 of the following year for calendar-year individuals. If the due date falls on a Saturday, Sunday, or holiday, it is automatically extended until the next day that is not a Saturday, Sunday, or holiday

If a taxpayer has a balance due on the due date of their federal income tax return, penalties can be imposed if they do not file in a timely manner or do not pay the balance due by the return due 

Because Congress expects taxpayers to pay their taxes as they go, Taxpayers may be subject to an underpayment penalty if they fall behind on their prepayments. One way taxpayers can avoid current year underpayment penalty is if their current year withholding and estimated tax payments equal or exceed 100% of their previous-year tax liability (110% for individuals with previous-year AGI greater than $150,000). 

An acceptable answer might look something like: TTTF

Answer rating: 100% (QA)

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