- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
No. If a penalty is assessed, the program will take care of it. But understand there's always the possibility no penalty will be assessed. In fact, if you do pay an estimate now, I doubt one will be assessed at all, so long as what you may owe the IRS at tax filing time (assuming you will owe and not be getting a refund) is less than $1000 or less than 10% of your total tax liability.... whichever is *higher*.
In fact, if you knowingly overpay then no penalty will be assessed and you'll get a refund if withholding on your W-2 income has been sufficient.
In fact, if you knowingly overpay then no penalty will be assessed and you'll get a refund if withholding on your W-2 income has been sufficient.
‎June 5, 2019
11:17 PM