When I started my new job in beg of 2020, I mistakenly changed my withholding status to Exempt based on stupid advice that I received from a non-competent tax advisor, so I under-withheld federal taxes for the first quarter of 2020. I also made some investment income that I need to pay short-term capital gains on. Although I requested additional deductions for the remainder of the year to make up for it, because I did not have enough tax withheld in the first quarter of 2020, I will likely still need to pay an underpayment penalty despite a tax refund. Is there anything I can do now to avoid the penalty, such as to make a federal tax payment to the IRS by the 2020 Q2 estimated tax deadline July 15?
I checked the 2019 F2210 https://www.irs.gov/pub/irs-pdf/f2210.pdf and could not find anything that factors in 2018 estimated taxes paid on the 2019 under-withholding penalty. Is there an expert I can consult if I can waive the underpayment penalty since this is the first time in my career that I owe the penalty?
