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Mike, who files Form 1040A, did not have enough tax withheld from his wages last year and owes $2,134 in federal income taxes. Although he plans to adjust his withholding allowances to increase the tax withheld on next year's tax return, he does not know if the increase will be enough to make his total withholding for the year as much as last year's tax liability, or even most of this year's liability. Should you recommend that Mike pay estimated taxes?
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