I would like to understand estimated taxes better. I am employed at a company
Due to an issue in my w4 form, it seems I have been underwithholding on my taxes. I am heading towards not paying 100% of my prior year's tax obligation.
At this point, to avoid an underpayment penalty, could I pay a lump sum estimated tax payment before the Q4 deadline to match the difference and ensure I have paid at least as much as 100% of my prior year obligation?
I have read that estimated tax to be paid evenly throughout the year.. So trying to understand if making a Q4 estimated tax payment would even help at this point.
