This year Lloyd, a single taxpayer, estimates that his tax liability will be $11,650. Last...
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Accounting
This year Lloyd, a single taxpayer, estimates that his tax liability will be $11,650. Last year, his total tax liability was $16,100. He estimates that his tax withholding from his employer will be $8,845.
a. How much does Lloyd need to increase his withholding by (for the year), in order to avoid the underpayment penalty?
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