Assuming you are asking because of an underpayment of estimated taxes penalty, your 2024 tax liability is Line 24 of your 2024 Form 1040. It is the total amount of federal income tax you owed for 2024 — not what you paid, and not your refund. You avoid an underpayment penalty this year if you paid in at least:
- 90% of your 2025 tax liability OR
- 100% of your 2024 tax liability (110% if your 2024 AGI was over $150,000)
Withholding is treated as paid evenly throughout the year — even if it was late. Estimated payments are credited by quarter and can trigger penalties if uneven.
If your current year total tax minus the amount of tax you paid through withholding is less than $1,000, you are not required to pay the underpayment penalty and do not need to complete Form 2210, Underpayment of Estimated Tax.
Different rules apply if at least two-thirds of your income is from farming or fishing. What are federal estimated taxes?
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