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vovikov84 [41]
3 years ago
5

Joan is a white-collar offender. She has been convicted of embezzlement and given a prison sentence. In terms of security levels

, which type of prison should Joan be sent to? A. Zero security B. Minimum security C. Medium security D. Maximum security
Law
1 answer:
Katen [24]3 years ago
6 0

Answer: C

Explanation:

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James is a taxpayer that files married filing separately. he had a tax liability of $6,700 in the previous tax year. his agi is
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For James to avoid an underpayment penalty in 2020, he needs to pay <u>$23,912.50</u>.

<h3>What is an underpayment penalty?</h3>

An underpayment penalty is the IRS fine levied on taxpayers who do not pay enough of their estimated tax liability.

According to the IRS rules, to avoid an underpayment penalty, James must pay either 100% of last year's tax or 90% for 2020.

<h3>Data and Calculations:</h3>

Tax liability from 2019 = $6,700

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Tax liability for 2020 = $19,125 ($76,500 x 25%)

Minimum tax to pay to avoid underpayment penalty = $23, 912.50 ($6,700 + $19,125 x 90%)

Thus, for James to avoid an underpayment penalty in 2020, he needs to pay <u>$23,912.50</u>.

Learn more about underpayment penalties at brainly.com/question/14328731

#SPJ1

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