Retirement tax questions

Unfortunately, paying 110% of 2022 tax is not sufficient.

 

If your quarterly withholding and estimates in 2023 are at least 100% / 4 = 25% ( 110% / 4 for certain high income taxpayers) of your 2022 tax, there will be no penalty on your 2023 tax return, regardless of any jump in income.

 

 

You can use Option C or Option D on the Form 2210 to reduce or eliminate the penalty.

 

@Evetsh