accounting-Last year, TBA Corporation, a calendar-year taxpayer,

QUESTION

Last year, TBA Corporation, a calendar-year taxpayer, reported a tax liability of $100,000. TBA confidently anticipates a current year tax liability of $240,000.What minimum estimated tax payments should TBA make for the first, second, third, and fourth quarters respectively (ignore the annualized income method) assuming the following:a.TBA is not considered to be a large corporation for estimated tax purposes.b.TBA is considered to be a large corporation for estimated tax purposes.For A and B, the question asks me to fill in the Estimated Tax Liability, Percentage of Tax Required to be Paid, and the Prior Cumulative Payments.

ANSWER:

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