Mickey,a Calendar Year Taxpayer,was Not Required to File a Federal

question 177

Multiple Choice

Mickey,a calendar year taxpayer,was not required to file a Federal income tax return last year because his AGI was negative due to business losses.For this tax year,his AGI is $120,000 and his tax liability is $10,000.To avoid a penalty for tax underpayments for the current year,Mickey must make aggregate estimated tax payments of at least:

• A)$10,000.
• B)$9,000.
• C)$1,000 (minimum amount).
• D)$0.

---

Definitions:

Benefit

A positive outcome or advantage gained from a condition, situation, or action.

Aggressive Disorder

A psychological condition characterized by patterns of hostile, violent, or forceful behavior towards others.

Case Study

An in-depth investigation of a single person, group, event, or community over a period of time, used as a research method.

Development

The process of growth or advancement, often through successive stages, in individuals, societies, or institutions.