Mickey,a Calendar Year Taxpayer,was Not Required to File a 2009

question 4

Multiple Choice

Mickey,a calendar year taxpayer,was not required to file a 2009 Federal income tax return.During 2010,his AGI is $120,000 and his tax liability is $20,000.To avoid a penalty for tax underpayments for 2010,Mickey must make aggregate estimated tax payments of at least:

• A)$0.
• B)$1,000 (minimum amount).
• C)$18,000.
• D)$20,000.

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Definitions:

Long-term Debt

Debt obligations that are due for repayment in more than one year, often used by businesses to finance operations or acquisitions.

Financial Ratios

Relationships determined from a firm’s financial information and used for comparison purposes.

Prior Time Periods

Refers to specific durations or intervals in the past used for analysis or comparison.

Peer Group

A set of individuals or entities that share similar characteristics or interests, often used as a benchmark or point of comparison.