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Get your taxes done using TurboTax
Yes, this penalty is for 2022, but Form 2210 uses two methods to determine the minimum amount you must pay.
To avoid the penalty you must pay in 90% of your current year tax (2022) ,or 100% of the total tax from the prior year (2021), whichever is less.
If you owe more than $1000 when you file your return and you have not paid in 90% of your current year tax (2022), or 100% of the total tax from the prior year (2021), you will owe a penalty for failing to pay enough tax through withholding or estimated payments.
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‎April 11, 2023
8:28 AM