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This year, Paula and Simon (married filing jointly) estimate that their tax liability will be $230,000....

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Accounting

This year, Paula and Simon (married filing jointly) estimatethat their tax liability will be $230,000. Last year, their totaltax liability was $190,000. They estimate that their taxwithholding from their employers will be $198,000.

a. Are Paula and Simon required to increase their withholding ormake estimated tax payments this year to avoid the underpaymentpenalty?

yes

no

b. By how much, if any. must Paula and Simon increase theirwithholding and/or estimated tax payments for the year to avoidunderpayment penalties?

Increase in withholding

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