Tungsten Corporation,a calendar year cash basis taxpayer,made estimated tax payments of $800 each quarter in 2017,for a total of $3,200.Tungsten filed its 2017 tax return in 2018 and the return showed a tax liability $4,200.At the time of filing,March 15,2018,Tungsten paid an additional $1,000 in Federal income taxes.How does the additional payment of $1,000 impact Tungsten's E & P?

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The additional payment of $1,000 made in 2018 decreases Tungsten's E & P in 2018, as it is a cash basis taxpayer and the payment was made in 2018.

Tungsten Corporation,a Calendar Year Cash Basis Taxpayer,made Estimated Tax Payments