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

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:

A) $20,000.
B) $18,000.
C) $1,000 (minimum amount) .
D) $0.

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free