If a Taxpayer's AGI Is Greater Than $150,000,no Penalty Will

question 74

Multiple Choice

If a taxpayer's AGI is greater than $150,000,no penalty will be imposed if the taxpayer pays estimated tax payments in 2014 equal to what percentage of 2013's income tax liability?

• A)100%
• B)90%
• C)110%
• D)120%

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Definitions:

Ban on Liquor

A prohibition or legal restriction placed on the manufacture, sale, and consumption of alcoholic beverages.

War of Jenkins' Ear

A conflict between Great Britain and Spain from 1739 to 1748, ignited by the mutilation of the British sea captain Robert Jenkins and representative of broader colonial and trade disputes.

Pursue Freedom

The act or process of seeking or striving for liberty and autonomy in one's life or society, often from oppression or restrictions.

American Colonies

The original thirteen British colonies in North America that declared independence in 1776 to form the United States.