Q. How do I pay the balance? Partial payment now or wait until end of the year
A. Simple answer: wait until end of the year. That is, wait until you file your 2022 tax return, in early 2023.
There are a couple of reasons for that answer:
- 20% is probably enough.
- No underpayment penalty will be due as long as your total withholding for 2021 was greater than your 2020 tax liability
