Minnie, a Calendar Year Taxpayer, Filed a Return Correctly Showing

question 30

Multiple Choice

Minnie, a calendar year taxpayer, filed a return correctly showing a zero Federal income tax liability for last year because her Form 1040 showed various deductions and credits. For this tax year, Minnie's AGI is $120,000, and her tax liability is $20,000. To avoid a penalty for the current year, Minnie must make aggregate estimated tax payments of at least:

• A) $20,000.
• B) $18,000.
• C) $1,000 (minimum amount).
• D) $0.

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Definitions:

Equilibration

A cognitive development process described by Jean Piaget in which individuals reconcile new information with their existing cognitive schemas, achieving a balance or equilibrium between assimilation and accommodation.

Intellectual Growth

The process of acquiring knowledge, understanding, and critical thinking skills, leading to the development of the mind.

Accommodation

In cognitive psychology, the process of adjusting existing cognitive schemas, perceptions, and understandings to incorporate new information.

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or otherwise sensed.