Miscellaneous Flashcards
1
Q
Places restriction on % of taxes a person pays- ensures every taxpayer pays their minimum share
A
Alternative Minimum Tax (AMT)
2
Q
Estimated tax due dates
A
April 15, June 15, Sept 15, Jan 15
3
Q
Required to make tax estimates if expected to owe
A
$1,000 or more
4
Q
Where is hobby income reported
A
Form 1040, Schedule 1, line 8
5
Q
What form is used to determine the amount of underpaid estimated tax and penalties
A
Form 2210
