Which of the following statements is false regarding corporate estimated tax payments?
A) Even though a corporation extends its tax return, it still must pay its tax liability for the year by three and one-half months after year-end.
B) Corporations using the annualized income method for determining estimated tax payments project their tax liability for the year based on income from the first, second, and third quarters.
C) Corporations must pay estimated taxes only if they have a federal income tax liability greater than $10,000 (including the alternative minimum tax).
D) The due dates for estimated tax payments are the 15th day of the 4th, 6th, 9th, and 12th months of the corporation's tax year.

Question

Quizplus · Accepted Answer

This statement is false. Corporations generally must make estimated tax payments if they expect their tax liability to be $500 or more. There is no minimum threshold of $10,000.

Which of the Following Statements Is False Regarding Corporate Estimated