If Estimated Tax Payments Equal or Exceed 100% of the Actual

question 8

True/False

If estimated tax payments equal or exceed 100% of the actual tax liability for the prior year,there is generally (assuming AGI less than or equal to $150,000)no penalty for underpayment of estimated taxes.

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Definitions:

Validity

The extent to which a test, measure, or research study accurately represents or measures what it is intended to, ensuring the findings are truthful and applicable.

True Zero

A point on a scale which indicates the absolute absence of the quantity being measured.

Computed

Calculated or processed using a computer or computational method.