There are a couple of ways that you might prevent an underpayment penalty for 2024.
- You can increase your workplace withholding on your W-4 form. You can complete a new 2024 W-4 form in the Other Tax Situations section and give to your employer.
- You can pay estimated taxes for 2024 based on what you owe for 2023. See this FAQ for how that is calculated in the same section.
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