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Business, 25.03.2021 22:00 jeto32

Tungsten Corporation, a calendar year cash basis taxpayer, made estimated tax payments of $800 each quarter in 2020, for a total of $3,200. Tungsten filed its 2020 tax return in 2021 and the return showed a tax liability $4,200. When it filed its tax return in 2021, Tungsten paid an additional $1,000 in Federal income taxes. How does the additional payment of $1,000 impact Tungsten's E

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Tungsten Corporation, a calendar year cash basis taxpayer, made estimated tax payments of $800 each...

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