While I did quarterly withholdings for my Federal taxes, I didn't for NY State (and NYC). I received an unexpected bonus of approximately $4800.00 during the fourth quarter of 2024. My current penalty for under-withholding in NY is about $633.00. Is there a way I can reduce that penalty because of the unexpected bump in my salary during the fourth quarter? Same question regarding my Federal taxes (I'm not sure I have a penalty yet for the Feds)?
