Hello,
In order to avoid underpayment penalty at the federal level, I make sure to adjust my W4 to pay 110% of my last years taxes.
This year however I calculated a bit wrong and turns out I am ~3K short.
Example: Like if my last years federal tax was X dollars, this year I would have paid this year 1.1X - 3K in my W2.
Now this should trigger an underpayment penalty.
My question:
1. Can I make a one time payment to avoid the underpayment.
2. If yes, what option should I choose on the IRS payment website.
3. How do I enter that information to turbotax once the payment is done
Thanks
