Which of the following statements concerning estimated tax payments and underpayment penalties for individuals is true?

Question

Quizplus · Accepted Answer

All of the statements are true. Taxpayers can be subject to underpayment penalties on a quarterly basis throughout the year, estimated tax payments are due on April 15 (July 15 for 2020), June 15, September 15, and January 15 (unless they fall on weekends or holidays), and the penalty amount depends on the amount of the underpayment among other factors.

Which of the Following Statements Concerning Estimated Tax Payments and Underpayment