How much does lloyd need to increase his withholding

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Reference no: EM13329143

This year Lloyd, a single taxpayer, estimates that his tax liability will be $10,000. Last year, his total tax liability was $15,000.

He estimates that his tax withholding from his employer will be $7,800.

How much does Lloyd need to increase his withholding by (for the year), in order to avoid the underpayment penalty?

Reference no: EM13329143

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