I'm doing my income taxes right now. Just finished entering all my income (W2, 1099INT/DIV). Turbotax tells me there is a $51 underpayment penalty (Federal). It does offer options to lower the penalty. I take a look at the options and it sounds very complicated. Annualized is one of the options to lower penalty. I don't remember the rest. I'd rather pay $51 penalty. It isn't that bad. I was worried that the penalty will be in the hundred dollar neighborhood.
