Which of the following statements is false regarding corporate estimated tax payments?
A)The due dates for estimated tax payments are the 15th day of the 4th, 6th, 9th, and 12th months of the corporation's tax year.
B)Corporations must pay estimated taxes only if they have a federal income tax liability greater than $10,000.
C)Even though a corporation extends its tax return, it still must pay its tax liability for the year by three and one-half months after year-end.
D)Corporations using the annualized income method for determining estimated tax payments project their tax liability for the year based on income from the first, second, and third quarters.

Question

Quizplus · Accepted Answer

Corporations must pay estimated taxes if they expect to owe at least $500 in tax for the year. The threshold of $10,000 applies to individuals, not corporations.

Which of the Following Statements Is False Regarding Corporate Estimated