A Penalty Is Assessed Against Individuals for Failure to Make

question 29

Multiple Choice

A penalty is assessed against individuals for failure to make adequate estimated tax payments.Which of the following is not true of that penalty?

• A)The penalty is not assessed if the tax due is less than $1,000.
• B)The penalty is not assessed if the total prepayments-withholding, estimated tax payments, and others-are at least 90 percent of the total tax due for the year.
• C)The penalty is assessed from the due date of the installment until the tax is actually paid (if later).
• D)The penalty is not assessed if the total prepayments-withholding, estimated tax payments, and others-equal or exceed the prior year's tax (unless taxable income exceeded $150,000).

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Definitions:

Dome of the Rock

An Islamic shrine located on the Temple Mount in the Old City of Jerusalem, featuring a large golden dome, it is one of the oldest works of Islamic architecture.

Mihrab

A semicircular niche set into the qibla wall of a mosque.

Qibla Wall

The wall in a mosque that faces Mecca, towards which Muslims pray; often marked by a Mihrab (niche).

Divine Inspiration

A concept meaning the guidance or influence of a deity on creators, often associated with the creation of art, literature, or ideas perceived as blessed or informed by a god.