I know that the IRS gives you safe harbor from the under withholding penalty if you paid at least 100% of the tax owed in the prior year or 90% of the tax owed in the current year. Do these exceptions also apply if you will be requesting an extension and filing later?
I know that my withholding for the 2023 tax year is at least 100% of what I owed for the 2022 tax year. I will be requesting an extension and filing later because I am waiting for a form K-1 from the executor of my sibling's estate. Since my with holding meets the 100% requirement will I have no penalty due if my with holding did not cover what I owe for 2023, and I have to make an additional payment when I file the return after April 15th but before the October deadline?
