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October 3, 2022
Question

I owe the Feds $5,500 plus a penalty. How to I have them take out more throughout the year to reduce this amount and avoid penalty.

  • October 3, 2022
  • 1 reply
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1 reply

Critter-3
October 3, 2022

You can have more withheld from any payer that can/will/do withholdings   OR   make quarterly estimated payments to make up the difference.    Which form you need to fill in depends on the payer.

 

Try these tools:

http://www.irs.gov/Individuals/IRS-Withholding-Calculator  

 https://turbotax.intuit.com/tax-tools  

http://turbotax.intuit.com/tax-tools/calculators/taxcaster