Get your taxes done using TurboTax

You should have either Social Security or the payer of your retirement income a withholding form for 2025 so you can avoid this next year.   

W-4P - Complete Form W-4P so your payer can withhold more federal income tax from your periodic pension, annuity (including commercial annuities), profit-sharing and stock bonus plan, or individual retirement arrangement (IRA) payments.  OR:

W-4V - Complete and give to SSA to have the government withhold tax from your social security payments.

From the IRS - Reduce or Remove an Underpayment Penalty.   While the penalty for underpayment of estimated tax generally cannot be waived due to reasonable cause, the penalty may be removed or reduced if the underpayment is the result of a casualty, local disaster, or other unusual circumstance when it would not be fair to impose the penalty. If you think you qualify for a waiver of the penalty as explained above, please send your written explanation, signed under penalty of perjury, to us at the address at the top of your notice.

Additionally, we may reduce a penalty if any of the following apply:

• You or your spouse (if you file a joint return) retired in the past 2 years after reaching age 62 or became disabled and you had reasonable cause to underpay or pay your estimated tax late. See Waiver of Penalty in Instructions for Form 2210 PDF.
• You had most of your income tax withheld early in the year instead of spreading it equally through the year. Complete Form 2210, Underpayment of Estimated Tax by Individuals, Estates, and Trusts PDF.
• Your income varies during the year. Complete Form 2210, Schedule AI, Annualized Income Installment Method PDF (found within the form).

If you think you qualify for a waiver of the penalty under any provision explained above, please send your written explanation, signed under penalty of perjury, to us at the address at the top of this notice.