Concerning a taxpayer's requirement to make quarterly estimated tax payments:

Question

Quizplus · Accepted Answer

An individual taxpayer is required to make quarterly estimated tax payments if their balance due for the year is expected to be $1,000 or more after subtracting their withholding and credits. The other options are incorrect as they do not apply to individual taxpayers. An estate is not required to make estimated payments, a trust must make estimated payments if its tax liability is expected to be more than $1,000, and a C corporation must make estimated payments if its tax liability is expected to be more than $500.

Concerning a Taxpayer's Requirement to Make Quarterly Estimated Tax Payments