Which of the following is a requirement for a full-year U.S. resident with an adjusted gross income under $150,000 to pay estimated tax payments? (The taxpayer is not filing married filing separately.)

Question

A taxpayer must make 2024 estimated tax payments if they owe $1,000 or more, and it appears that the total amount withheld from their 2024 income plus expected credits will be less than the smaller of the following: 90% of the tax to be shown on their 2024 return or 100% of the tax shown on their 2023 return.
A taxpayer must make 2024 estimated tax payments if they owe $500 or more, and it appears that the total amount withheld from their 2024 income plus expected credits will be less than the smaller of the following: 100% of the tax to be shown on their 2024 return or 90% of the tax shown on their 2023 return.
If at least two-thirds of the taxpayer's 2023 or 2024 gross income comes from wages, they are required to prepay for 2024, only two-thirds of their 2023 tax, rather than 100%.
Taxpayers are required to pay 110% of their 2023 tax.

Answer 1

The correct requirement for a full-year U.S. resident with an adjusted gross income under $150,000 to pay estimated tax payments is:

A taxpayer must make 2024 estimated tax payments if they owe $1,000 or more, and it appears that the total amount withheld from their 2024 income plus expected credits will be less than the smaller of the following: 90% of the tax to be shown on their 2024 return or 100% of the tax shown on their 2023 return.

This aligns with the general guidelines for estimated tax payments for most taxpayers under the threshold mentioned.