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:

Divorce

The official termination of a marriage by a court or an authorized entity.

Marriage

A legally and socially sanctioned union between individuals that establishes rights and obligations between them, as well as between them and their children, and between them and their in-laws.

Functionalist Perspective

A sociological approach that emphasizes the way each part of society functions together to create a cohesive whole.

Nuclear Family

A basic family unit typically composed of two parents and their dependent children, regarded as a central social institution.