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New Member
posted Jun 3, 2019 5:12:12 PM

How come there is a "0" on our 1040 line 23 when we have always paid this penalty in years past?

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1 Replies
Level 10
Jun 3, 2019 5:12:14 PM

IRS waived the penalty for many whose tax withholding and estimated tax payments fell short in 2018

https://www.irs.gov/newsroom/irs-waives-penalty-for-many-whose-tax-withholding-and-estimated-tax-payments-fell-short-in-2018

"The IRS is generally waiving the penalty for any taxpayer who paid at least 85 percent of their total tax liability during the year through federal income tax withholding, quarterly estimated tax payments or a combination of the two. The usual percentage threshold is 90 percent to avoid a penalty."