"The other thing I recommend is to decline to include a penalty and wait for the IRS to bill you."
If you choose to follow that recommendation, be aware that the IRS charges interest on any unpaid tax, penalties, and interest until the balance is paid in full, and the interest rate on underpayments is compounded daily. The current IRS interest rate is 7%.
https://www.irs.gov/newsroom/interest-rates-remain-the-same-for-the-third-quarter-of-2023#:~:text=Fo....
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
