@john_gl wrote:
Will I have a tax penalty if I wait to pay the entire amount at tax time next year?
Not necessarily because the penalty is based upon your withholding (and estimated payments) for the current year and your tax liability for the prior tax year, whichever is smaller.
If you didn’t pay enough tax throughout the year, either through withholding or by making estimated tax payments, you may have to pay a penalty for underpayment of estimated tax. Generally, most taxpayers will avoid this penalty if they owe less than $1,000 in tax after subtracting their withholdings and credits, or if they paid at least 90% of the tax for the current year, or 100% of the tax shown on the return for the prior year, whichever is smaller.
See https://www.irs.gov/businesses/small-businesses-self-employed/estimated-taxes
