Thank you for answering those questions. Since I underestimated what my side gig earned I have a penalty. Here is what I wrote in my return to waive my penalty:
2023 is the first full year I retired from my career job where taxes were deducted each month with predictable pay. I ended up working a part-time job where I claim my hours each month as an independent contractor. I used the tax form to estimate my wages and the estimate qtr payment was $750. However, my estimation came up short. I did not anticipate working this many hours and ended up earning more than expected.
Question: Will this explanation suffice?
