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Get your taxes done using TurboTax
TurboTax will calculate underpayment penalty if any is due.
assuming you filed jointly in 2023 and made no estimated tax payments for 2024 there will be no underpayment penalties if federal withholding is 90% of 2024 tax or 100% (110% if 2023 Adjusted Gross Income was over $150K) of 2023 tax. state laws differ.
the best way to pay the$2500 if you can't pay the full amount by 4/15/2025 is to set up a short-term payment plan. besides the $2500 you'll be charged penalties and interest until the total amount owed is paid. so the only advice we can offer is to pay as much as you can as soon as you can
‎February 19, 2025
11:26 PM