"Generally, most taxpayers will avoid this penalty if they either owe less than $1,000 in tax after subtracting their withholding and timely estimated tax payments, or if they paid at least 90% of the tax for the current year or 100% (110% if your AGI for the previous year was more than $150,000) of the tax shown on the return for the prior year, whichever is smaller." You can find additional detail on page 52 of this IRS reference: <a rel="nofollow" target="_blank" href="
https://www.irs.gov/pub/irs-pdf/p505.pdf">https://www.irs.gov/pub/irs-pdf/p505.pdf</a>
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
