Problem 17-32 (Algorithmic) (LO. 6) Wan's AGI last year was $274,000. Her Federal income tax came to $82,200, paid throu

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Problem 17 32 Algorithmic Lo 6 Wan S Agi Last Year Was 274 000 Her Federal Income Tax Came To 82 200 Paid Throu 1 (52.45 KiB) Viewed 19 times

Problem 17-32 (Algorithmic) (LO. 6) Wan's AGI last year was $274,000. Her Federal income tax came to $82,200, paid through both withholding and estimated payments. This year, her AGI will be $411,000, with a projected tax liability of $61,650, all to be paid through estimates. Wan wants to pay the least amount of tax during the year that does not incur a penalty. If required, round intermediate calculations to two decimal place and your final answer to the nearest dollar. a. Compute Wan's total estimated tax payments for this year. Under the current-year method: $ Under the prior-year method: b. Assume instead that Wan's AGI last year was $92,000 and resulted in a Federal income tax of $18,400. Determine her total estimated tax payments for this year. Under the current-year method: $ Under the prior-year method: $