"We live on social security, joint savings account and iras. "
IRS requires you to estimate your tax and pay as you go.
The first test is whether your withholding covers your tax.
Social Security - you can have tax withheld monthly .
IRAs - you can have tax withheld.
savimgs account withdrawal - not taxed.
It the withholding covers at least 90% your tax, then you don't have to make Estimated Tax payments.
There is no penalty.
@pa210
