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masya89 [10]
3 years ago
13

According to captain Cochran, undercover operations are A.) Proactive B.) Reactive C.) Excessive D.) Insufficient

Law
1 answer:
Anna35 [415]3 years ago
7 0
The answer is C. Excessive
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When Edwin Sutherland closely examined companies in the United States, what was he surprised to find?
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About______
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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

AGI for the current tax year = $85,000

Taxable income = $76,500 (assumed to be 90% of AGI)

Tax rate = 25%

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

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