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Owing Taxes Multiple Years in a Row
I need some guidance for future years. I will owe the IRS for tax year 2018 due to a Roth conversion. The amount is significant. I will pay the amount in full by the April 15th filing date. I'd like to another conversion in 2019. A conversion will likely result in me owing for Tax year 2019 as well. My question is: if I accept that I will owe, but pay off the amount before the filing deadline, is there any penalty? I can't seem to find an answer related to this scenario. It should be noted that this is partially due to intentional underwithholding from W2 income
‎January 3, 2019
2:06 PM