Charles, a calendar year taxpayer, filed a return correctly showing no income tax liability for 2008.During 2009, his AGI is $120,000 and his income tax liability was $30,000.To avoid a penalty for 2009, Charles must make aggregate estimated tax payments of at least:

Question

Quizplus · Accepted Answer

Since Charles had no tax liability in the previous year (2008), he is not required to make estimated tax payments for 2009 to avoid a penalty, as long as he pays the full amount by the due date.

Charles, a Calendar Year Taxpayer, Filed a Return Correctly Showing