Yes. But not interest proof if you owe more. Generally, most taxpayers will avoid this
penalty if they either owe less than $1,000 in tax after subtracting
their withholding and estimated tax payments, or if they paid at least 90%
of the tax for the current year or 100% of the tax shown on the return for the
prior year, whichever is smaller.
Also, please see the following link for more information about Underpayment Penalties.
