Estimated tax payments
If I pay 90% of taxes I owe by January 15, do I still pay penalty if those tax payments weren't paid every quarter?
If I pay 90% of taxes I owe by January 15, do I still pay penalty if those tax payments weren't paid every quarter?
Under the default underpayment of estimated tax method yes you would owe penalties since 1/4 is due each period. However, however, you do have the option of using the annualized income installment method on page 3 of the 2210 which might reduce or eliminate the penalties
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