Answer:
When a taxpayer has an underpayment of estimated tax or fall behind on his/her tax prepayment, then he/she is required to pay a penalty on Form 2210. This penalty is called underpayment penalty.
According to the tax laws, Mr. P and Ms. S can avoid an underpayment penalty if their withholding's and estimated tax payments equal or exceed one of the following two safe harbors:
- 90 percent of current tax liability ($200,000 x 90% = $180,000)
- 110 percent of previous year tax liability (110% x $170,000 = $187,000)
From the above calculation, it is clear that Mr. P and Ms. S's withholding's ($175,000) do not equal or exceed the amount of two safe harbors. So, they need to increase their withholding's or make estimated payments to avoid underpayment penalty.
If Mr. P and Ms. S increase their withholding's by $5,000 or make estimated payments of $1,250
per quarter ($5000/4), they can avoid the underpayment penalty.
Mr. Paula and Simon average gross income is greater than $150,000, so 110% is taken.
Interest rate? Repayment amounts? Length of time of loan? Smile on the face of the money lender? Might there be a little more to this quesition?
<span>Kyle is a Data Analyst. Data analysts do a variety of tasks involving data including organizing and structuring data for a business, search for patterns among data sets, write reports to help executives make decisions, and analyze data to inform business practices.</span>
Answer:
The most accurate answer is *They fear that if they give a positive reference for someone who doesn't work out in a new job, they may be sued by that person's new employer.
Explanation:
Giving a reference of an employees character, professional and ethical behavior, productivity and integrity is a great responsibility and not just a mere simple act.
this is mainly because the references are a main way to assess the suitability of hiring an employee and if we give an incorrect reference, the other firm might rely on it and hire an ineffective employee.
