Minnie, a calendar year taxpayer, filed a return correctly showing a zero Federal income tax liability for 2011, because her Form 1040 showed various deductions and credits.During 2012, Minnie's AGI is $120,000 and her tax liability is $20,000.To avoid a penalty for 2012, Minnie must make aggregate estimated tax payments of at least:

Question

Quizplus · Accepted Answer

Since Minnie had zero tax liability in the previous year (2011), she is not required to make estimated tax payments for 2012 to avoid a penalty, as long as she pays the full amount by the due date.

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