Beth and Jay project the following taxes for the current year:
In order to avoid underpayment penalties,between withholding from wages and quarterly estimated payments,Beth and Jay should pay in at least (assume the following prior year amounts):
a.AGI of $140,000 and total taxes of $36,000.
b.AGI of $155,000 and total taxes of $50,000.

Question

Beth and Jay project the following taxes for the current year:
  In order to avoid underpayment penalties,between withholding from wages and quarterly estimated payments,Beth and Jay should pay in at least (assume the following prior year amounts):
a.AGI of $140,000 and total taxes of $36,000.
b.AGI of $155,000 and total taxes of $50,000.

Quizplus · Accepted Answer

The Answer of Beth and Jay project the following taxes for the current year:
  In order to avoid underpayment penalties,between withholding from wages and quarterly estimated payments,Beth and Jay should pay in at least (assume the following prior year amounts):
a.AGI of $140,000 and total taxes of $36,000.
b.AGI of $155,000 and total taxes of $50,000.

Beth and Jay Project the Following Taxes for the Current