Problem NO: 33

This year, Santhosh, a single taxpayer, estimates that his tax liability will be $100,000.  Last year, his total tax liability was $15,000.  He estima

This year, Santhosh, a single taxpayer, estimates that his tax liability will be $100,000.  Last year, his total tax liability was $15,000.  He estimates that his tax withholding from his employer will be $35,000.  Is Santhosh required to increase his withholding or make estimated tax payments this year to avoid the underpayment penalty?  If so, how much? 

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