An Individual with AGI Equal to or Less Than $150,000

question 50

Multiple Choice

An individual with AGI equal to or less than $150,000 in the prior year may generally avoid penalties for underpayment of estimated tax in each of the following cases with the exception of

• A)estimated tax is less than $1,500.
• B)90% of the tax due for the current year is paid.
• C)90% of the tax due for the current year is paid when computed on an annualized basis.
• D)100% of the actual tax liability for the prior year is paid.

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Definitions:

Ego

The part of the psyche in psychoanalysis that deals with reality, operating on the reality principle and mediating between the desires of the id and the morals of the superego.

Superego

In Freudian psychoanalysis, the part of a person's mind that acts as a self-critical conscience, reflecting social standards learned from parents and teachers.

Free Will

The concept that human beings have the power to make choices and decisions without constraints, implying a degree of autonomy and self-determination.

Deterministic

The philosophical concept that suggests all events, including moral choices, are completely determined by previously existing causes.