@jcreynolds183 wrote:
Per the clarification I received above, it looks like I would need to hit the 110% mark, and I don’t expect I’d accomplish that by my weekly paycheck withholdings as my normal income should be approximately equal to the prior year.
Would I then need to simply make a payment of roughly 10% more than last year’s withholdings, using the link you shared - and then square up everything else in April of 2024?
Yes, that should work.
Be aware, of course, that doesn't save the tax, just the extra penalty. After paying 10%, you will still need to set aside another 30% or so in a safe place.
