meswaney
New Member

Will I have an underpayment penalty if I've paid 90% of my tax obligation?

IRS withholding calculator says i can't take enough out of my final paycheck this year to meet my anticipated tax obligation. I've seen articles online that suggest i won't be penalized if I've paid 90% of my taxes or 110% of last year's tax bill. I've done both. Do those rules still hold?