How much must Paul pay in estimated taxes to avoid a penalty

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Reference no: EM132618175

Question - Paul has the following information:

AGI for 2019 = $155,000

Withholding for 2019 = $27,000

Total tax for 2018 = $31,000

Total tax for 2019 = $30,947

Required -

a. How much must Paul pay in estimated taxes to avoid a penalty?

b. If Paul had paid $900 per quarter, would he have avoided the estimated tax penalty?

Reference no: EM132618175

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