This preview shows page 1. Sign up to view the full content.
Unformatted text preview: a", "c", and "d" are incorrect, per the above explanation. CPA-02244 Type1 M/C A-D Corr Ans: A PM#27 R 3-99 60
© 2009 DeVry/Becker Educational Development Corp. All rights reserved. Maxixishere Pdf Collection
Becker CPA Review, PassMaster Questions
Lecture: Regulation 3 121. CPA-02244 Nov 91 II #51 Page 32 No penalty will be imposed on a corporation for underpayment of estimated tax for a particular year if:
d. The tax for that year is less than $500.
Estimated tax payments for the year equal at least 80% of the tax shown on the return for that year.
The corporation is a personal holding company.
The alternative minimum tax is at least $1,000. CPA-02244
Choice "a" is correct. No underpayment of estimated tax penalty will be imposed if the total tax for the
year is less than $500.
Choice "b" is incorrect. No underpayment penalty will be imposed where estimated tax payments for the
year equal at least 100% of the tax shown on the return for that year.
Choice "c" is incorrect. Corporations...
View Full Document
This note was uploaded on 06/14/2013 for the course ACCOUNTING Regulation taught by Professor Becker during the Fall '10 term at Keller Graduate School of Management.
- Fall '10
- The Land