Regarding quarterly estimated taxes and IRA withrawals, if the IRA withdrawal only occurred in the 4th quarter and you paid estimated taxes by the 4th quarter due date (mid-January), would there be any penalty? The estimated taxes paid by the January due date were 92.8% of the final taxes for the year. I reviewed Form 2210 and it indicated I did not need to file the form. I paid more in 4th quarter taxes than the prior year tax bill.
I have written to the IRS, but my concerns are falling on deaf ears. They are treating the December withdrawal as annualized for each quarter and charging penalites going back to the 1st, 2nd and 3rd quarters. I informed them that the withdrawal did not occur until December 19th of the tax year.
Am I correct?
