If you do not meet the safe-harbor of having paid evenly enough throughout 2024 to equal 100% (110% for those with higher AGI) of your 2023 tax liability, yes, your financial advisor gave you bad information. Annualizing income on Schedule AI for Form 2210 may eliminate the penalty for the first 3 quarters for 2024, but it won't eliminate the penalty for Q4. Eliminating the penalty for Q4 would have required making an estimated tax payment before January 15 (or filing an paying the balance due by January 31).
