Do I owe an underpayment penalty?
Do I owe an underpayment penalty?
In general, you may owe a penalty if the total of your withholding and estimated tax payments did not equal at least the smaller of: 90% of your current year tax, or 100% of your prior year tax. (Your prior year tax return must cover a 12-month period.) The IRS will figure this amount for you automatically if it is due and contact you thru the U.S. mail.
Leave a comment?
0 Comments
Login
![](/images/no_photo_new.png)
![](/images/right_arrow_white.png)
REGISTER WITH EMAIL
![](/images/right_arrow_white.png)